Hi every1, i have been working on past exam papers for my MBA and I need help with the following question:
Accounts for an engineering company show the following details:
Materials used - £700,000
Wages - £ 540,000
Shopfloor Expenses - £ 162,000
General expenses - £112,160
What price should the company quote for a job estimated to require £1000 in materials and £900 in wages? The company has a policy to earn at least 10% profit on cost.
Can anyone please advise?
Thanks.
Accounts for an engineering company show the following details:
Materials used - £700,000
Wages - £ 540,000
Shopfloor Expenses - £ 162,000
General expenses - £112,160
What price should the company quote for a job estimated to require £1000 in materials and £900 in wages? The company has a policy to earn at least 10% profit on cost.
Can anyone please advise?
Thanks.