Contracts & ExecutionQuestion 185 of 1632
A contractor estimates a job will take 320 labor hours at a fully burdened rate of $55 per hour. What is the estimated labor cost?
a.$5,818
b.$17,600
c.$1,760
d.$176,000
Explanation
Estimated labor cost equals hours times the burdened hourly rate: 320 x $55 = $17,600. The burdened rate already includes payroll taxes, insurance, and benefits.
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