Voltage Electrical, which installs sophisticated electronic-control systems in new homes, prices jobs by using the time-and-materials method. The following data apply to a job for LMB Builders:
Labor hours: 180
Materials cost: $48,000
The following predictions, based on 30,000 direct labor hours, pertain to the company's operations for the year:
Voltage Electrical adds a markup of $15 per hour on its time charges, but there is no profit markup on material costs.
Required:
Calculate the price for the LMB Builders' job.
Correct Answer:
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