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slamgirl [31]
3 years ago
9

If a cost estimate indicates that a residential design is significantly over budget, what changes would you consider to reduce t

he cost of the project?
Business
1 answer:
kogti [31]3 years ago
6 0
<h3><u>Changes considered to reduce the cost of the project: </u></h3>

Cost Estimates of a Residential Design have the following elements:

1) Quantity Takeoff

2) Labor Hours

3) Labor Rates

4) Material Prices

5) Equipment Costs

6) Subcontractor Quotes

7) Indirect Costs

8) Profit Margin

Quantity Takeoff is the very basic element required in Residential Building. Labor hours and rates depends on the location, work difficulty, market value, and other extrinsic factors. Material prices and Subcontractor Quotes again depends on location, supply and demand. Equipment Costs depends on the location, place of purchase, transportation cost, size of equipment, etc. Indirect costs are overheads for labor and contractors.

As we can check the above elements, we cannot change Quantity takeoff, as no one wants to compromise in the quality. However, we can try to slightly negotiate with Labor rates and Subcontractor Quotes. Again, as mentioned the budget is significantly high, so we need to work on reducing 2 costs, which are Equipment Costs and Material Prices.

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In preparing its bank reconciliation for the month of April 2018, Coronado, Inc. has available the following information. Balanc
hoa [83]

Answer:

the adjusted cash balance as on April 30,2018 is $77,800

Explanation:

The computation of the adjusted cash balance as on April 30,2018 is as follows;

= Balance as per bank statement + deposit in transit - outstanding checks

= $78,800 + $9,300 - $10,300

= $77,800

Hence, the  adjusted cash balance as on April 30,2018 is $77,800

We simply applied the above formula so that the accurate value could arrive

4 0
3 years ago
Amarillo Company experienced the following events during its first accounting period. (1) Purchased $5,000 of inventory on accou
Alik [6]

Answer:

$4,000

Explanation:

The computation of the cash to be required to settle the liability is shown below:

= Purchase value of inventory - returned inventory which was purchased

= $5,000 - $1,000

= $4,000

It is a net purchase plus it is the cash required to settle the liability

There is no discount applied in the question as dates are not given so we ignored it.

4 0
3 years ago
In its first year of existence (year 1), SCC corporation (a C corporation) reported a loss for tax purposes of $30,000. How much
devlian [24]

Answer:

SCC won't pay any tax

Explanation:

Their loss of $30,000 in year 1 will be unused and made available to counterbalance the total generated earnings in year 2.

The $20,000 earnings in year 2 can be used to counterbalance the whole taxable income; so, SCC will not pay pay tax. SCC will have a ($10,000) loss carryover available for year 3 and beyond

6 0
3 years ago
Frankie's Chocolate Co. reports the following information from its sales budget: Expected Sales: July $ 90,000 August 110,000 Se
Cerrena [4.2K]

Answer:

$112,500

Explanation:

                                                 July       August         September  October

Credit Sales(90000*75%)       67,500  

                   (110,000*75%)                       82,500

                   (120,000*75%)                                          90,000

Cash Sales (120,000*25%                                            30,000

<em>Total Cash expected to be collected in September will be;</em>

Credit Sales of August      $82,500

Cash  Sales of September $30,000

Total cash expected to be collected in September =$112,500

4 0
3 years ago
Read 2 more answers
Five hundred units of good x are currently bought and sold. The marginal buyer is willing to pay $40 for the 500th unit, and the
dimaraw [331]

Answer:

D : All options are correct

Explanation:

- The marginal buyer is the essence of demand curve while marginal seller is essence of supply curve.

- @ Q = 500 units,    Selling Price is set at SP = $35

- @ Q = 500 units,    Buying Price is set at BP = $40

- Since, SP ≠ BP our equilibrium price would be $ 37.5 assuming the price elasticity of demand and supply are equal. In any case the equilibrium price would lie in between [ 35 , 40 ] such that to prevent a shortage of units in near future.

- Moreover, if the seller decides to sell at price $35 then he must sell goods greater than 500 units to reach the equilibrium profits. However, it could also lead to excess of units or surplus.

- We see that from selling the goods at SP = $35 while the buyer is willing to pay BP = $40 for 500 goods, the seller would be under-profiting and would be earning $5*500 = $2,500 less than he would at equilibrium price of $40 and selling units greater than 500. Hence, 500 goods is not an efficient quantity of goods.

6 0
3 years ago
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