Question

Complete the General Overhead Expenses sheet and calculate the percentage to add to a project when bidding or estimating a project. Provide additional number indicated this will help you calculate the % for bids.) Total for year----Volume need total ----Plus other OH----Total OH Expenses----Percentage to add to bids. General Overhead Expenses 2019 Salaries Totals per Year CEO Chief Estimator Admin Assistant HR Assistant $ $ $ $ Unit 9,200.00 month 6,500.00 month 24.00 hour 20.00 hour total $ $ $ $ $ Burden % % % FICA Medicare SUTA& FUTA 6.2 1.45 6.2 $ $ $ % $ Workers Comp EMR Liability 3.8 1.05 2 % $ Health Insurance Paid Vacation $ $ 1.80 hr 1.84 (hr $ $ Calculate the % to be added to a project when bidding

Please show all your work so I can understand how to got to your answers.

Answer 1

General Overhead Expenses			Year	2019			(In Dollars)
	Salaries			Unit			Totals Per Year
		CEO	9200	Month			1,10,400.00
		Chief Estimator	6500	Month			78,000.00
	Let’s Consider Admin Assitant and HR Assistant works for 1768 Hours per year
		Admin Assistant	24	Hour	42432		42,432.00
		HR Assistant	20	Hour	35360		35,360.00
				Total			2,66,192.00
	Burden
	%	FICA	6.2				16,504.00
	%	Medicare	1.45				3,860.00
	%	SUTA & FUTA	6.2				16,504.00
	%	Workers Comp	3.8				10,115.00
		EMR	1.05				2,795.00
	%	Liability	2				5,324.00
		Health Insurance	1.8	Hour			12,730.00
		Paid Vacation	1.84	Hour			13,012.00
				Total			6,13,228.00
	Percentage to be added to a project when bidding
	As per the above Calculation	613228
	As the above Over Head Expenses are nearly 80% to the Total Bidding
	Hence	613228/0.80	766535
	This will be the bid price