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Perguntas do quiz (23)
1The owner request changes which will cause the contractor $2,500 in labor and material and $700 in overhead cost. With the change, the contractor would be relieved of $1000 in labor cost and $280 in overhead cost from the original contract. The original bid included profit of 10% of all cost. The contractor wants to make a profit of 10% of all costs on the changes. The amount of the change orders include a
- A$1,820
- B$2,112
- C$3,200
- D$3,500
2A lump sum contract on a project has a total contract price of $200,000. Retainage has been held back at 10%. The contractor has received payments of 90% of the project. The contractor submit a request for the final payment for the now complete project. The final payment amount should be for
- ALess than $25,000
- BBetween $25,000 and $35,000
- CBetween $35,000 and $45,000
- DMore than $40,000
3A contractor agrees to unit price contractor to Product A for $50 per unit, product B for $50 per unit, and Product C for $375 per unit. The contractor is also to add 30% for overhead and profit. How much the contractor should be paid for producing 27 units of Product A, 56 units Product B and 78 units Product?
- ALess than $40,000
- BBetween $40,000 and $45,000
- CBetween $45,000 and $50,000
- DMore than $50,000
4A contractor calls for liquidated damages of $500 per day. The project completed five late because it was delayed by rain. The completion would have been ten earlier if it were not for the rain delay. There was $500 bonus per day for the contractor for completion. NO EXTENSION OF TIME WAS REQUESTED OR GRANTED. How much does the contractor earn or owe?
- AOwes $2,500 in Liquidated damages
- BOwes $500 in Liquidated damages
- CIs due $2,5000 bonus from the owner
- DIs due a $500 bonus from the owner
5A job had a bid price of $165,000 after the direct cost and overhead are factored. What will the final bid be if the profit markup is 11.5%
- A$186,440
- B$183,975
- C179,545
- D$189,874
6Given the following information, is it advantageous to purchase or rent this particular piece of equipment if it has 3 useful tears?
Purchase. Rent
Initial Cost. $10,000. $0
Rental. $0. $500
Salvage values $2,000. $0
Insurance. $40. $0
Operating cost. $200. $0- ARenting saves $840
- BRenting saves $2,280
- CPurchasing saves $840
- DPurchasing saves $3,160
7In a cost plus contract, the contractor receives direct cost for labor and materials with a 40% mark up, a 10% bonus if the total cost to the owner is less than $100,000, and a $500 bonus for each day the work is complete early. The final cost of labor and materials is $60,000 in the work is done five days early. How much is the Contractor due?
- ALess than $85,000
- BBetween $85,000 and $90,000
- CBetween $90,000 and $95,000
- DGreater than $95,000
8What is the bid for the following when there is a combined profit and overhead of 30%?
-10 units at $75.00 each
-20 units at $200.00 each
-30 units at $290.00 each- A$13,450
- B$16,379
- C$17,485
- D$19,214
9A firm has current assets of $68,000, fix assets of $162,000, current liabilities of $45,000, and long-term liabilities of $72,000. The firm’s financial position would be considered to be
- Aadequate for taking on a major project
- BSufficient to overcome a slow period
- COne that could result in cash flow problems
- DExtremely inadequate
10The cost of equipment is $1,000, the cost of materials is $6,000, and direct labor is $3,000. Project overhead is 20% of direct labor, general overhead is 10% of direct labor and materials, and profit is 10% of all cost. The owner offer to pay $12,000. If the contractor accept the offer, what would be the contractor’s anticipated profit or loss?
- AProfit $1,100
- Bprofit $500
- CLoss $500
- DLoss $650
11A firm’s financial situation is as follows:
current assets. $80,000
Fixed assets. $112,000
Inventory including assets $12,000
Current liabilities. $30,000
Long term liabilities. $86,000
Net annual income. $57,000
What is the firm’s working capital?- A$192,000
- B$32,000
- C$50,000
- D$204,000
12A non-exempt employee of a contractor covered by the Fair Labor Standards Act works 30 hours during the first week of a two week period. The employee works 50 hours during the second week to make up the missed time. The employee’s pay rate is $12 per hour. What should be the employee’s gross pay for this two week period?
- ALess than $1,000
- BBetween $1,000 and $1,050
- CMore than $1,050
- DCannot be determined from this information
13A contractor who uses the basis of accounting performs and bills for $10,000 worth in June abs includes $8,000 worth of expenses in June. The contractor receives $8,000 in June for the June work and also receives $3,000 for work done in May. The contractor pays for $5,000 of the June expenses in June, and also pays $1,000 of May’’s expenses. Disregarding any other income or cost, how much net income will the contractor recognize in June?
- A$2,000
- B$3,000
- C$4,000
- D$5,000
14For one month a company bills out $15,000 in completed work and receives $5,000 in payments. They pay $5,000 to supply hours and post $5,000 in bills to pay next month. Using a cash accounting method and not considering any other revenue or expenses, what is the company’s net income for the month.
- A$0
- B$5,000
- C$15,000
- D$20,000
15Given the following information, what is the firms debt to equity ratio?
Current assets $80,000
Fixed assets. $112,000
Current liabilities $30,000
Inventory. $12,000
Long term liabilities. $86,000
Net annual income. $57,000- A0.90
- B1.20
- C1.53
- D1.66
16Given the following information, what is the firms quick ratio?
Current assets $80,000
Fixed assets. $112,000
Current liabilities $30,000
Inventory. $12,000
Long term liabilities. $86,000
Net annual income. $57,000- A1.00
- B1.66
- C2.14
- D2.27
17Given the following information, what is the firms return on investment?
Current assets $80,000
Fixed assets. $112,000
Current liabilities $30,000
Inventory. $12,000
Long term liabilities. $86,000
Net annual income. $57,000- A14.3%
- B27.9%
- C29.7
- D58.9
18A company has $100,000 in current assets, $100,000 of long term assets, $50,000 of current liabilities, and $40,000 of long term liabilities. The maximum bond of single product for this company would typically be limited to
- A$10,000
- B$50,000
- C$100,000
- D$500,000
19An owner of a business has $32,000 in liabilities and $39,000 in equity. What are the assets?
- A$32,000
- B$39,000
- C$71,000
- D$7,000
20An insurer offer a 10% discount for contractor with a safety program. The estimated premium is $300 per month without the discount. The safety program would cost $400 to set up and $15 a month to maintain. What is the savings or cost over 3 years?
- ANet savings of $140
- BNet saving of $1080
- CNet cost of $800
- DNet cost $940
21What is the VA corporate income tax rate before modifications, credits or adjustments?
- A2%
- B4%
- C6%
- D10%
22A general contractor perfects a lien against an owner. A subcontractor notifies the owner that the General contractor should still owe the subcontractor for work performed on the owners project. The owner has yet paid the General contractor. In this situation,
- AThe subcontractor may be paid directly be the owner.
- BThe subcontractor is not due any money
- COnly the General contractor can perfect a lien against the owner
- DThe subcontractor must perfect a lien against the contractor
23A contractor pays worker compensation at a of $0.10 per $100 of office employee payroll and $.20 per $100 of field employee salary. If the total office payroll is $25,000 in total feel employee payroll is $125,000, what is the total workers compensation paid by the contractor ?
- ALess than $200
- BBetween $200 and $400
- CBetween $400 and $600
- DGreater than $600
Informações
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- Quiz sobre Sem título, criado por Andrew Ervin em 05-05-2022.
- Autor
- Andrew Ervin
- Idioma
- English
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- Criado em 5 mai 2022 · atualizado em 5 mai 2022
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