Hansel Corporation has requested bids from several architects to design its new corporate headquarters. Frey Architects is one of the firms bidding on the job. Frey estimates that the job will require the following direct labor.
Labor Estimated Hours Hourly Rate
Architects 176 $ 300
Staff 352 75
Clerical 825 20
Frey applies overhead to jobs at 175% of direct labor cost. Frey would like to earn at least $40,000 profit on the architectural job. Based on past experience and market research, it estimates that the competition will bid between $298,000 and $376,000 for the job.
1. What is Frey's estimated cost of the architectural job?
2. If Frey bids a price of $298,000, will it earn its target profit of $40,000?
3. What is Frey's Estimated selling price?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Hansel Corporation has requested bids from several architects to design its new corporate headquarters. Frey Architects is one of the firms ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Cost of Goods Sold is considered what type of account? a. Equity - expense account b. Equity - revenue account c. Liability account d. Asset account
Answers (1)
Revenue from property taxes is used to fund which? public schools and other services. highway repairs and pollution controls. Social Security and Medicare. medical research and development.
Answers (2)
Suppose you graduate with an accounting degree and then become a certified public accountant. You work for a big firm, but are offered a chance to prepare tax documents for your city government as an independent contractor.
Answers (1)
Universal container sales reps can modify fields on an opportunity until it is closed. Only the sales operations team can modify the post close follow up date and post close follow up comments fields. How to make this happen? A.
Answers (1)
Ken has created a budget, but he wonders if the budget fits his needs. Why would it be useful for Ken to keep records of his expenses and examine them at the end of the year?
Answers (1)
New Questions in Business
When is halfway through the grade school year?
Answers (1)
Stuart Manufacturing Company established the following standard price and cost data. Sales price $ 8.80 per unit Variable manufacturing cost $ 3.
Answers (1)
Kincaid Company's Retained Earnings balance on January 1 was $9,000. During the current year, Kincaid earned $3,100 in revenues and incurred $4,300 in expenses. Kincaid declared and paid $3,000 in dividends, all in cash.
Answers (1)
Cotton Brokers, Inc., enters into a contract to sell denim clothing to Delite Natural Fashion store, which in turn sells a pair of jeans to Esmé, a consumer. In comparison to standards that apply to consumers, the UCC imposes on merchants A.
Answers (1)
Globalization of the economy has been led primarily by transnational corporations. what do these corporations do?
Answers (1)