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You have entered into an agreement with a supplier on a Time and Materials contract. You estimate that the work will require 4,000 hours of
You have entered into an agreement with a supplier on a Time and Materials contract. You estimate that the work will require 4,000 hours of labor. 1,000 of those hours will be worked by people billed at $100 per hour. The other 3,000 hours will require more skilled labor at $150 per hour. Overhead costs for the supplier will be $10,000. What is the wrap rate the supplier will charge you?
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