Scenario:

Your name is Joel Robinson and you are the principal for Many Solutions Technical 3000 Consulting Engineers (MST3K). In addition to your many engineering responsibilities, you also spend time on financial planning, invoicing, and accounting. You are responsible for determining year end profits and losses. MST3K is a very small company with only 5 employees including yourself. MST3K worked on only 3 projects during 2021. Based on Table 2, Table 3, Table 4, and Table 5 calculate MST3K's 2021 results for questions 1-4 below. There are no other sources of revenue or costs other than what is shown in the tables. (Could you please show the work for calculations so I can follow and don't do on excel)

1. 2021 Total Revenue?
2. 2021 Total Cost?
3. 2021 Profit/Loss?
4. Mike Nelson's 2021 Utilization Rate?

TABLE 2 - 2021 MST3K PROJECTS Project Name Contract Fee Model Fee collected in 2021 Deep 13 Tunnel Design Lump Sum $145,000 Gizmonic Institute Building 1 Structural Remodel Lump Sum $675,000 Boggy Creek Hydrology Study Time and Materials See Table 4TABLE 4 - Boggy Creek Hydrology Study - 2021 Summary Staff Name Position Project Billing Rate (per hour) Hours invoiced to client and payment received Joel Robinson Principal $250 28 Mike Nelson Associate $200 25 Gypsy Project Engineer $150 500 Crow T. Robot Staff Engineer $100 780 Tom Servo CADD Technician $75 1000\fTABLE 3 - 2021 MST3K OVERHEAD COSTS Overhead Item 2021 Cost PAYROLL BURDEN: Paid Time Off (PTO - Vacation, Sick, Holiday) $59,000 PAYROLL BURDEN: Employee Insurance (health, dental, etc.) $150,000 INDIRECT LABOR: Financial Planning, Billing, Accounting, Etc. $63,000 INDIRECT LABOR: Marketing, proposals, contract review $150,000 INDIRECT LABOR: Other $182,810 General & Admin: Office rental $120,000 General & Admin: Utility costs (power, gas, water) $24,000