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The materials were charged at a loading charge of 80.00% of their cost.
The total charge was $720 and included both the material charge and the labor charge.
The first thing to do is therefore find out the cost of the materials without the labor charge:
= Total cost - labor charge
= 720 - (6 labor hours x 75 per labor hour)
= 720 - 450
= $270
The total cost of materials is $270. To find the material loading charge, use the formula:
= (Total cost of materials - Cost of materials used) / Cost of materials used x 100%
= (270 - 150) / 150 x 100%
= 120 / 150 x 100%
= 80%
In conclusion, the material loading charge was 80.00%.
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