1. You started a painting company and you are trying to estimate the cost and duration of a painting job to give a quote to the owner. The job is external painting of a two-story house. You are going to hire a subcontractor to do all the preparations like caulking and changing of rotten wood etc. and you will do the painting yourself. You estimated the total area to be painted as 1400 square foot at first floor level and 1800 square foot at the second floor level. (40 points) Your subcontractor gave you a lump sum price of $3,000 for the job. You are going to hire two of your friends from this class to help you paint and you figured that with all the burdens they will cost you $25/hr (per person). You charge for yourself $35/hr as foreman. (you and your friends get paid only for the actual hours you worked -hourly worker) You own your spray paint gun and you figured that its hourly cost is $15/hr and you rent a compressor for $40/day. The compressor is rented on a daily basis only. You will rent it the morning of the day you start working and return it at the end of the day you finish your job. with your friends you can paint 400 SF in a day working on the ground and 300 SF in a day working on ladders. You work 5 hours/day. 5 ga. Bucket of exterior paint costs $120 and it covers a 50 SF area. You estimate your waste factor to be around 10%. Your job indirect cost for things like daily cleaning, inspection of work with the customer etc. is! estimated to be $100/day Your markup for the job is 10% of your direct and indirect cost You want to put a contingency of 10% based on total direct.cost. You also estimate that your home office cost (overhead), small tools, ladders, and your truck costs you on average about $6,000 a year. You expect to distribute this cost to 30 jobs you will perform a year. a. What is the estimated duration (in hours) and how much would you quote for this job? b. How much will be the net profit of the company if everything goes as planned? C. How much will be the net profit of the company if your productivity for second floor turns out to be 200 SF/day and paint price goes up by 10%? (you still get paid your original quote) (use the next page to show your calculations and clearly mark your labor, material, and equipment calculations)