Work the following pricing problems for services rendered. (Round to hundredths.)

Labor rate = $7.00 per hour

Labor time = 15 hours

Overhead rate = 110%

Retail price of parts = $38.75

Total job cost?

- 133.25

- 154.25

- 259.25

- 301.88

Given:

Labor rate = $7.00 per hour

Labor time = 15 hours

Overhead rate = 110%

Retail price of parts = $38.75

Total job cost = (labor rate x labor time) (overhead rate) + retail price

= ($ 7 per hr x 15 hrs) (1.10) + $ 38.75

= $ 154.25