# budgeting

posted by .

You are estimating the contractor’s material handling cost as a factor of the material cost. After examining 6 previous contracts you have the percentage (factor) for each contract:

2.5% 6.2% 3.2% 12.9% 7.0% 15.3%

All of the following would be reasonable actions except for:
Consider if there is an additional cost driver
Determine if all 6 contracts were for similar work
Reconsider if material cost is a good indicator of material handling cost
Throw out the high and low values and average the remaining factors

• budgeting -

Throw out the high and low values and average the remaining factors

• sTATISTICS -

You are estimating the contractor’s material handling cost as a factor of the material cost. After examining 6 previous contracts you have the percentage (factor) for each contract:

2.5% 6.2% 3.2% 12.9% 7.0% 15.3%

## Similar Questions

1. ### Construction Estimating

Given a Contract Amount o \$14,000,000 and an Estimated Cost of \$13,440,000 for a project of 10 months duration, establish a cost estimating sheet to obtain what percentages of estimated cost are Job Overhead & General Overhead?
2. ### optimization

While searching for the minimum of ƒ(x)  [x2  (x  1)2][x2  (x  1)2] 1 2 1 2 we terminate at the following points: (a) x(1)  [0, 0]T (b) x(2)  [0, 1]T (c) x(3)  [0, 1]T (d) x(4)  [1, 1]T Classify each point. AND 3.17. Suppose …
3. ### ENGLISH

You'll be alert, engrosed in the (14)material.And concentrated 100 percent. a) no change b) material, and c) material; and d) material and After reading it over and over, I think b) a comma after material would be the correct answer. …
4. ### calculus

a closed box with square base is to have a V= 2000in^3. The material for the top and bottom of the box is to cost \$3 per square inch and the material for the sides is the cost \$1.50 per square inch. If the cost of the material is to …
5. ### math

If a contractor pays an average wage of \$20.00 per hour and wants to make a 15% mark-up on the cost of labour, what will the contractor charge as an average labour cost on contracts?
6. ### algebra word problem

To remodel a bathroom a contractor Charles \$25 er hour plus material costs, which amount to \$3825. Therefore, the total cost to remodel he bathroom is given by f(x)=25x+3825 where x is the number of hours the contractor works. Find …
7. ### maths

the cost of production of a radio set is rupees 900 , divided between material, labour and overheads in the ratio 3:4:2 . calculate the cost of0 material used in the radio set is marked at a price that clears 20% profit on the cost …
8. ### Math (algebra)

Could you help me with this math question: A can in the shape of a right circular cylinder is required to have a volume of 500 cubic centimeters. The top and bottom are made of material that costs 11 cents per square centimeter, while …
9. ### Math

f a contractor pays an average wage of \$20.00 per hour and wants to make a 15% mark-up on the cost of labour, what will the contractor charge as an average labour cost on contracts?
10. ### Math

All of the following statement are true about factors EXCEPT: Complexity, Miniaturization, and productivity are examples of adjustment factors. A cost factor is a cost estimating relationship, where the dependent variable is not directly …

More Similar Questions