7. Alma and Associates, a new consulting service, recently r, Managerial Accounting

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Alma and Associates, a new consulting service, recently received a bill for repairs on its computers totaling $2,350. Alma thinks it may have been overcharged and is trying to recreate the components of the bill. She knows the hourly rate is $75 and 15 hours of labor was charged. She also knows $700 of parts were replaced. Compute the material loading charge percentage the repair service used.

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