Adams and O'Sullivan, plumbers, successfully bid $30,000 for the plumbing work on a new luxury home. Total direct labor cost on the job was $9,500, other direct costs were $2,500, and overhead is charged to jobs at 150% of direct labor cost.

1. Compute the profit or loss on the job in

(a) Dollars and

(b) As a percentage of the bid price.

2. Express labor and overhead as a percentage of total costs.