You and your spouse are planning a second honeymoon to the Cayman Islands this summer and would

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You and your spouse are planning a second honeymoon to the Cayman Islands this summer and would like to have your house painted while you are away. Estimate the total cost of the paint job from the information given below, where:
Costtotal = Costpaint + Costlabor + Costfixed
Paint information: Your house has a surface area of 6000 ft2. One can of paint can cover 300 ft2. You are estimating the cost to put on two coats of paint for the entire house, using the cost per can given. Note the incremental decrease in unit cost per can as you purchase more and more cans.
Number of Cans Purchased Cost per Can
First 10 cans purchased............................. $15.00
Second 15 cans purchased......................... $10.00
Up to next 50 cans purchased...................... $7.50
Labor information: You plan to hire five painters who will paint for 10hours per day each. You estimate that the job will require 4.5 days of their painting time. The painter's labor rate is $8.75 per hour. Fixed cost information: There is a fixed cost of $200 per job that the painting company charges to cover travel expenses, clothing, cloths, thinner, administration, and so on.
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Engineering Economic Analysis

ISBN: 9780195168075

9th Edition

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

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