Calculate the fully loaded cost of labor for your Project Engineer using the following data: Hourly rate:
Question:
Hourly rate: …………………………….. $40/hr
Estimated hours of work: ………………. 120
Overhead rate: …………………………. 65%
Personal time: ………………………….. 15%
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
The formula for calculating fully l...View the full answer
Answered By
Umber Talat
I am providing full time mentoring and tutoring services in Business Finance, Contemporary issue in Global Economy, Quantitative Techniques, Principles of Marketing, strategic marketing, International Marketing, Organizational Behavior (OB), Consumer Behavior, Sales Force Management, Strategic Brand Management, Services Marketing, Integrated Marketing Communication (IMC), Principles of Management, General Management, Strategic Management, Small and Medium Enterprise Management, Innovation Management, Change Management, Knowledge Management, Strategic Planning, Operations Management, Supply Chain Management, Logistics Management, Inventory management, Total Quality Management (TQM), Productions Management, Project Management, Production Planning, Human Resource Management (HRM), Human Resource Development, Strategic HRM, Organizational Planning, Performance and Compensation Management, Recruitment and Selection, Organizational Development, Global Issues in Human Resource Management, Retail Marketing, Entrepreneurship, Entrepreneurial Marketing, International Business, Research Methods in Business, Business Communication, Business Ethics.
4.70+
158+ Reviews
236+ Question Solved
Related Book For
Project Management Achieving Competitive Advantage
ISBN: 978-0133798074
4th edition
Authors: Jeffrey K. Pinto
Question Posted:
Students also viewed these Management Leadership questions
-
Calculate the fully loaded cost of labor for a project team member using the following data: Hourly rate ..$35/hr. Hours needed.150 Overhead rate .55%
-
Assume that overhead is charged on a flat-rate basis. Each member of the project is assigned an overhead charge of $150/week. What would the fully loaded cost of labor be for an employee, given that...
-
Calculate the direct cost of labor for the project team using the following data. What are the costs for the individual project team members? What is the fully loaded cost of labor?
-
A car has a sticker price of $69,000. The car has a 100 hp engine and can accelerate from 0 to 60 mph in 15.8 seconds. The lease rate is 4.6%. The term of the lease is three years. The buyout is...
-
Review the website of Merrill Lynch (www.ml.com). How does Merrill Lynch leverage its global position to adjust to local markets through the Internet? Why is the Internet particularly relevant for...
-
For the data in the Excel file Accounting Professionals, perform a chi square test of independence to determine if age group is independent of having a graduate degree.
-
Water flows from a large tank into a dish as shown in Fig. P5.54. (a) If at the instant shown the tank and the water in it weigh \(W_{1} \mathrm{lb}\), what is the tension, \(T_{1}\), in the cable...
-
Erin Company recently changed its system of internal control over cash disbursements. The system includes the following features. 1. Instead of being unnumbered and manually prepared, all checks must...
-
If the balance of Work in Process on August 31 is $220,000, what was the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor...
-
1. By changing the way his group talks about IT investments, CIO Tim Schaefer is trying to change the way the rest of the company sees IT. Why do you think this is necessary? What would be the...
-
1. Consider the following statement: Government-funded projects intended to serve as prestige projects, such as the Big Dig, should not be judged on the basis of cost. Do you agree or disagree with...
-
How has the global economy affected the importance of cost estimation and cost control for many project organizations?
-
1. Do companies have an ethical obligation to keep jobs in their home country? Why or why not? 2. In what ways, if at all, were Scovill's ethical obligations to its U.S. and Chinese workers...
-
Assume that you are an accountant at XYZ Company. XYZ management has asked you to assist them with an issue. XYZ is considering the option to invest excess cash in short-term financial instruments....
-
Let h(x) = x + 5 and g(x) = x-8. Find (h-g)(-2).
-
Yuli wants to help his adult grandson, Jerry, become a CPA. He pays all of Jerry's tuition this year, which totals $20,000. He also pays $9,000 for Jerry's room and board at school. Yuli makes the...
-
Factor. 10= +31=+3
-
What is difference between linear motion and circular motion? What is difference between an acceleration you applied when you speeding up your car and centripetal acceleration? Give one example of...
-
What are the main features in a JIT production system?
-
What is removed during each of the three stages of wastewater treatment: primary, secondary, and tertiary? During which state would you expect items to be recovered that were accidentally flushed,...
-
Explain the differences among inventory control systems. What are the advantages and disadvantages of each system?
-
Norman Stark, Inventory analyst at fictional Grimault Industries, is considering the use of the ABC method of classifying inventory so that he can exercise better control over the critical items in...
-
Lynne Chappell manages the inventory of supplies in a large hospital. To determine which items should be closely monitored, Lynne decided to use the ABC classification scheme to group the items on...
-
1. Write a Java program that will prompt the user for a number and print out a square with those dimensions. For example, if the user enters 5, return the following: * * * ** ** * * * * * * * * * * *...
-
2. Vector multiplication or dot product is performed by multiplying corresponding elements and summing the products. It can be represented mathematically as oa; *bi where a and b are vectors of...
-
The following data was collected from an experiment testing the hypothesis: The density of cream whipped for 5 minutes increases at higher altitudes. What would be an acceptable interpretation of...
Study smarter with the SolutionInn App