Question Solved1 Answer Hodson Ltd is a one product firm with material cost per unit of £55.00 and labour cost per unit of £5.50. Labour cost is incurred at the rate of £11.00 per hour, and overheads are absorbed at the rate of £37.00 per labour hour. Hodson Ltd applies mark up to its product at a standard rate of 50% on total cost. What is the expected margin for the product?

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Hodson Ltd is a one product firm with material cost per unit of £55.00 and labour cost per unit of £5.50. Labour cost is incurred at the rate of £11.00 per hour, and overheads are absorbed at the rate of £37.00 per labour hour. Hodson Ltd applies mark up to its product at a standard rate of 50% on total cost. What is the expected margin for the product?

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Caculation of labour hours per unitI hope this solves your doubt.Feel free to comment if you still ha ... See the full answer