Based on the quoted labor estimate of 12 hours for $935.50, the approximate hourly rate is closest to which value?

Based on the quoted labor estimate of 12 hours for $935.50, the approximate hourly rate is closest to which value?

• A. $60.00
• B. $77.96
• C. $78.00
• D. $90.00

Answer: (B)

To find the hourly rate from a labor estimate, divide the total amount by the number of hours. So, 935.50 divided by 12 equals 77.9583..., which rounds to about $77.96 per hour when expressed to two decimals. This value is the closest to the actual rate; 78.00 is slightly higher, while 60.00 and 90.00 are farther away. Therefore, the approximate hourly rate is about $77.96 per hour.

To find the hourly rate from a labor estimate, divide the total amount by the number of hours. So, 935.50 divided by 12 equals 77.9583..., which rounds to about $77.96 per hour when expressed to two decimals. This value is the closest to the actual rate; 78.00 is slightly higher, while 60.00 and 90.00 are farther away. Therefore, the approximate hourly rate is about $77.96 per hour.