Nail the Utah Contractor Exam 2025 – Build Your Future with Confidence!

Question: 1 / 770

If the direct costs of a job are $41,000, with overhead at 15% and desired profit at 6%, what is the total bid amount presented to the client?

$51,898.73

To determine the total bid amount presented to the client, we start with the direct costs of the job, which is $41,000. Next, we need to calculate the overhead and the desired profit, applying them to the direct costs.

First, calculate the overhead, which is 15% of the direct costs. To do that, you multiply $41,000 by 0.15:

15% of $41,000 = $41,000 * 0.15 = $6,150.

Next, add this overhead amount to the direct costs to get the total costs so far:

Total costs = Direct Costs + Overhead = $41,000 + $6,150 = $47,150.

Now, we calculate the desired profit, which is 6% of the total costs computed to this point. This means we need to find 6% of $47,150 by multiplying:

6% of $47,150 = $47,150 * 0.06 = $2,829.

Finally, to find the total bid amount, we add the desired profit to the total costs:

Total bid amount = Total Costs + Desired Profit = $47,150 + $2,829 = $49,979

Get further explanation with Examzify DeepDiveBeta

$52,736.89

$50,189.98

$53,693.24

Next Question

Report this question

Download Utah Contractor Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy