An Estimate of $1,395

question 4

Short Answer

An estimate of $1,395.95 is submitted for a job. The actual material cost is $275.49, and the labor and overhead come to $496.96. What profit does the contractor expect on the job?

---

Definitions:

Task Analysis

The process of breaking down a task into its component parts to understand the skills and knowledge required to perform it efficiently.

Mental Tasks

Cognitive activities that require mental effort, including problem-solving, decision-making, and memory recall.

Needs Analysis Process

A systematic approach to identifying and evaluating the needs of a particular group or organization to inform decision-making and planning.

Data Collection

The process of gathering information from different sources for specific purposes such as research or analysis.