Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A construction company has total revenues on Project 8650 of $936,804, total construction costs of $729,332, labor costs of $208,000, material costs of $145.525. subcontractor

image text in transcribed

A construction company has total revenues on Project 8650 of $936,804, total construction costs of $729,332, labor costs of $208,000, material costs of $145.525. subcontractor costs of $328,744, equipment costs of $47,063, fixed overhead costs of $79,880, variable overhead costs of $52.490 and mixed overhead costs of $12,642 for the year. Risk factor assigned to this project is 24% with a minimum profit of 4.75%. Assume revenue, construction costs, labor costs, material costs, subcontractor costs, equipment costs, fixed, mixed and variable overhead costs come in exactly to the penny.) of what was shown as a subtotal immediately before profit was figured and added to finalize your bid. Determine the company's percentage of costs that became profits. 4.75% 6.67% 8.94% 5.88% 7.14%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Equity Audits In The Classroom To Reach And Teach All Students

Authors: Kathryn B. McKenzie, Linda E. Skrla

1st Edition

141298677X, 978-1412986779

More Books

Students also viewed these Accounting questions

Question

Decision Making in Groups Leadership in Meetings

Answered: 1 week ago