0
Are the cost of materials included in the cost of subcontracted work?
Wiki User
∙ 9y ago
These costs should be included. Make sure to read the estimate to find out what all is included before beginning the work.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
About how much will it cost to buy a franchise business?
Depending on what type of business you are looking to develop, it could cost anywhere from $50,000 to over $1 million. Most businesses that offer franchising rights will have lenders for you to work with.
Is outsourcing is a corporate strategy?
Outsourcing is a strategy to cut down cost and get more work for less, no matter how big or small your business is.
I want to clean office buildings how would you estimate them?
You calculate your pricing by square footage. I'm not a businessman, but the question is interesting. You want the advice of people who are doing this or similar things. Office buildings are large, so your estimates will be extremely important; you don't want to give an estimate and find that in 3 months you are belly-up. Be sure to figure in labor (yourself and any other help), the requirements/desires of the building owners/business managers, cost of cleaning equipment and materials, disposal issues if you are going to be involved (permits, etc, the need to recycle if applicable), hours available for you and your staff to work, cost of your own materials/equipment, figuring in maintenance and depreciation, etc. It may not be all that complex if you want to be a one-person operation, but you absolutely must get input from someone who has been there.
Subcontractor Agreement?
Get StartedA Subcontractor Agreement is an agreement between a general contractor (the "General Contractor") and another party who has subcontracted to perform work and services for the General Contractor (the "Subcontractor"). The General Contractor is the party who will contract directly with the owner of the property on which the Subcontractor will be working. Frequently, the General Contractor has portions of the larger project that the General Contractor prefers not to do. Therefore, the General Contractor contracts those portions out to another party, the Subcontractor.If it is available, the Subcontractor may wish to review the Original Contract between the Owner and the General Contractor to be sure that there are no conflicting terms between it and the anticipated Subcontractor Agreement.This agreement allows the parties to describe which services and materials the Subcontractor will provide, specify the price for the work, and assign various rights and liabilities between the parties. Important provisions regarding indemnification, insurance, change orders, unforeseen conditions, defaults, the nature of the parties' relationship and miscellaneous concerns are also included.This agreement should be signed by both parties and becomes effective as of the date inserted at the beginning of the agreement.
What are the benefits of outsourcing IT services?
The benefits of outsourcing Information Technology services are that of reduced cost, larger department with more specialised sub teams to work on your equipment.
What are the principal costs of an electrical contracting firm?
materials and supplies amounted to 36.6 percent of the total value of electrical contractors' work, and their payrolls came to 33.5 percent of that total. Other costs included subcontracted work
What is general liability classification code 91581?
Contractors-SubContracted work-construction
How do you compute cost of labor on piece rate work basis?
cost of materials * 2 = labor total cost of materials *2 / total number of production (less overhead) = labor
What is the difference in the flow of costs between manufacturing and service organizations?
In a service organisation which uses job-order costing, the cost of inputs brought from outside (subcontracted work) is comparable to the cost of direct materials used in a manufacturing organisation. Similarly, the direct staff costs in a service organisation correspond with the direct labour costs in a manufacturing organisation. The office overhead expenses in a service organisation is similar to the manufacturing overhead in a manufacturing organisation. The cost of any completed work is simlar to the cost of finished goods inventory in a manufacturing organisation. Basically the names of the accounts used in a service organisation are different to those used in a manufacturing organisation. The work-in-process account in a service organisation would therefore have cost of subcontracted work, direct staff cost and office overhead cost on the debit side; the cost of completed work would be on the credit side. Other than the terminology, everything else in the flow of costs remains the same. The pre-determined overhead rate can be calculated by using an overhead allocation base such as direct staff costs and each completed job can be allocated with the appropriate portion of the estimated overhead based on the actual direct staff costs incurred on the project.
How to compute the cost per unit for direct materials and for conversion costs?
The unit cost for direct materials is computed by adding the materials cost in the beginning work in process inventory to the materials cost for the month divided by the total equivalent production figure.Conversion cost per unit is computed by adding direct labor and factory overhead divided by the total equivalent production figure.
What is general liability class code 91583?
Contractors - subcontracted work - in connection with building construction, reconstruction, repair or erection - one or two family dwellings
What do you mean by work in progress in cost accounting?
work in progress means the raw materials which are kept processing but not yet finished,it excludes the opening stock of raw materials and closing stock of finished goods its value is higher than raw material but significantly low as cost of finished goods
How much would it cost to be a freelance graphic artist?
The cost of being a freelance graphic artist will depend on: 1. Cost of study materials, education or certification 2. Cost of tools ( pc, laptop, software, hardware ) 3. Cost of work space ( are you renting your home office? where do you work? ) 4. Cost of communication ( phone bills, etc ) 5. Cost of electricity ( used for work )
What journal entry do you use to record the actual conversion cost incurred?
work in process mixing 45,000 materials 45,000
What is the average cost to replace the transmission in a 2002 Ford Taurus?
Simply to remove and replace it is about $1000-1250 at most garages. No trans work or cost of new unit included.
What should I expect our of an estimate?
An estimate is typically just a summary of the time and materials cost that the company would charge you for the work you need done. The roofers might give you a number that equals the cost of repair materials, and another one for the time and labor costs.
What materials does a chemist work with?
A chemist must work with all types of materials.
