Estimating Flashcards
When preparing a bid, a contractor must consider
profit, overhead, labor and mateiral, and evaluate the effect of unexpected delays on costs
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if you place an advertisement which offers a home improvement service for $95 and have no intention of signing a contract for that low of a price this is
a misdemeanor and cause for disciplinary action
a cotractor signs a home improvement contract and accepts a down payment, but never shows up to do the work. what is the fine
contracotr is subjected to a penalty of $100-$5000 and or one year in jail
you are bidding on a state college job and the work involves new construction. you decide to use subcontractors to do some of the work. you do not however submit the names of any subcontractors
you will be responsible for completing the whole contract yourself
a contractor finds a 12” discrepancy on a set of drawings for an office building. the contractor should
contact the architect or designer
when preparing a bid, which of the following is normally the most difficult to estimate
labor
if a contractors bilingual salesperson makes a presentation to a customer in spanish, the home solicitation contract must also be
written in spanish
the homeowner has drawn plans for the job that you are bidding on and the dimensions on the plans are not accurate. you should
notify the homeowner that you cannot bid until proper corrections are made
every contractor and estimator considers cost estimating a challenge
due to weather, location, number of employees, and each job is different
you have prepared a bid which enables you to make a profit, however fthe customer cannot afford it. what should you do
do not change your bid unless the scope of the job is reduced
what is job costing?
-it assists you in defining costs for future bidding
-assures that cost estimates will be accurate
-it assists you with the labor and material costs
if you are doing a complete package bid including all phases of the new house so that you can give the customer a price that will be complete and you forgot to charge for one phase, what should you do
do all of the phases including the one that you forgot to charge for regardless if it means that you will have to absorb the loss
the benefit of using job cost cards is
to keep accurate costs records for bidding in the future
labor costs can be established by
taking the hours from the detailed job cost time cards from past jobs
how do you prepare a bid accurately
factor in effects of the unexpected cost of delays
job costing is helpful in
determining the profit or loss on the job
you would not include which of the following in a bid
possible legal fees
the reason for standardizing bidding with your company is that it
guarantees the accurancy of cost estimates
you know if you are bidding correctly when
the job and estimated costs correspond
what is the best way to access the job that you are bidding on
you inspect the job
what is the most difficult item to estimate
labor
a contractor should include material, labor and direct costs, permits, profit and ____ when bidding on a home improvement contract
overhead costs
in order to ensure no errors in the bid, you should
double check the bid prior to submitting it
what does direct labor consist of
actual cost of the labor payroll
when bidding a job, it is alright to
double check your estimate
job costs cards do not provide any benefit in
keeping cost records that are accurate for bookkeeping
what is the usual procedure for the contractor if changes have been made to the original construction documents after the project has been issued and work has commenced
the contractor should have a signed change order for the additional costs
the most important element of a contract between the parties involved is
mutual agreement
which of the following generally summarizes the work and closeout of the project
general requirements
on large jobs, the person usually in charge for guaranteeing that the project drawings are in accordance with the building codes and local ordinances is
the architect/ engineer
when a contractor agrees to fulfill work or services for a given labor rate per hour and a 15% profit on the cost of materials, this is called a
cost plus fee contract
the two basic types of construction contracts are
competitive bid and negotiated