eBook Mariup on Cost Cost-Based Pricing Arthur Quilen Construction Company is a general contractor that specializes in custom residential housing. Each job requires a bid that includes Quillen's direct cost policy is to estimate the costs of direct materials, direct labor, and subcontractors costs. These are totaled, and a markup is applied to cover overhead and profit. In revenues and costs: Revenue $3,740,000 Direct materials $2,250,000 Direct labor Subcontractors 1,900,000 3.450,000 Overhead and profit 7,600,000 $1,140,000 Required: 1. Given the preceding information, what is the markup percentage on total direct costs 2. Suppose Quilten is asked to bid on a job with estimated direct costs of $570,000. What is the bid? Check My Work All work savet