1. A construction company has total revenues of $650,000, total construction costs of $509,000, and general...
1. A construction company has total revenues of $650,000, total construction costs of $509,000, and general overhead costs of $65,000 for the year. Determine the profit and overhead mark-up for a company that wants to maintain a 8% gross profit margin.
Homework Answers
Gross profit = 8% or 0.08
Profit and overhead markup = Gross profit / ( 1 - Gross profit)
= 0.08 / (1 - 0.08)
= 0.0870 or 8.70%
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