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ProFit in a building contract typically refers to the profit margin that a contractor expects to earn from a project, often calculated as a percentage of the overall costs. Attendance, on the other hand, refers to the presence and participation of the contractor’s staff or subcontractors on-site to ensure that the work is completed as per scheduled timelines and specifications. Both elements are crucial for managing project costs and ensuring successful project delivery.
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Why allow for profit and attendance in prime cost sum?
Allowing for profit and attendance in the prime cost sum is important because it provides a comprehensive view of the total costs associated with producing goods or services. Profit represents the return on investment and is essential for the sustainability of a business. Attendance factors in the labor costs required to produce the goods or services, ensuring that all expenses are accounted for in determining the prime cost. By including profit and attendance in the prime cost sum, businesses can accurately assess their financial performance and make informed decisions for future operations.
What is the average profit margin of the furniture industry?
Contract furniture manufacturer profit margin is between 30-35%. Distributor or "Dealer" profit margin is 20-25%.
What is an acceptable Gross profit for building material companies?
18 to 30 %
Division of profit and losses in partnership?
Profits and losses are shared evenly Except otherwise stated in the contract.
What is some information one needs to know when building a business?
Some information that you need to know when building a business is where your revenue will be coming from. You will need to be in control of your revenue and expenses in order to earn a profit.
Why allow for profit and attendance in prime cost sum?
Allowing for profit and attendance in the prime cost sum is important because it provides a comprehensive view of the total costs associated with producing goods or services. Profit represents the return on investment and is essential for the sustainability of a business. Attendance factors in the labor costs required to produce the goods or services, ensuring that all expenses are accounted for in determining the prime cost. By including profit and attendance in the prime cost sum, businesses can accurately assess their financial performance and make informed decisions for future operations.
In contract costing profit can be recognised only when the contract is completed?
In contract costing, the profit is only guaranteed when the actual contract is completed because the prices keep changing. There is usually a slight variation between projected profit and the actual figures.
What is Profit and amp attendance in construction?
Profit in construction refers to the financial gain achieved after deducting all project-related costs from the total revenue generated. Attendance, on the other hand, pertains to the presence and participation of workers on-site, which is crucial for maintaining productivity and meeting project deadlines. Effective management of both profit and attendance is essential for the overall success and efficiency of construction projects.
Profit and attendance?
All companies strive to have their profits increase every year. One way that this can happen, is to have the employees have a good attendance record so the work gets done.
Can an Ijara contract be a discounted contract for the purpose of calculating profit?
The Ijara contract cannot be discounting. because on the date of the contract you don't agree the profit amount with the customer. Under actual business scenario, you will link the Ijara to a LIBOR / EIBOR rate feeds.
What is the average profit margin of the furniture industry?
Contract furniture manufacturer profit margin is between 30-35%. Distributor or "Dealer" profit margin is 20-25%.
What motivated the construction of Empire State Building?
Profit.
Name and list the roles of five personnel who are concerned in the building contract?
Name and list the roles of five (5) personnel who are concerned in the building contract.
What insurance company offers an upgrade in your car in case of accident?
None. Your auto insurance policy is a contract of indemnity. Not a contract of profit.
What are the factors involved in pricing general and special attendance on a contract?
Factors involved in pricing general and special attendance on a contract include the scope of services required, the level of expertise and experience of the attendees, the duration of the event, any additional services or accommodations needed, and market demand. Special attendance may command a higher price due to specialized skills or unique requirements. Pricing should also consider any travel expenses, equipment costs, and overhead expenses associated with providing the attendance services.
Can a building owned by a not for profit rent space?
The simple answer is yes
What is the purpose of an extended service contract?
To keep existing client and maintain profit revenue
