A 130,000-square-foot building is to be constructed on a university campus. You just received two sets of estimates: physical area and furnishings percentages, and the per unit cost factors, as shown below. Estimate the cost of the building and its furnishings. Type of Usage Classrooms Laboratories Offices Area, % of 130,000 27 37 36 22 78 Cost per ft², $ 128 188 113 153 28 Furnishings-labs Furnishings-all others The estimated cost of the building and its furnishings is $

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question
A 130,000-square-foot building is to be constructed on a university campus. You just received two sets of estimates: physical area and
furnishings percentages, and the per unit cost factors, as shown below. Estimate the cost of the building and its furnishings.
Type of Usage
Classrooms
Laboratories
Offices
Area, % of 130,000
27
37
36
Cost per ft², $
128
188
113
153
28
Furnishings-labs
Furnishings-all others
The estimated cost of the building and its furnishings is $
22
78
Transcribed Image Text:A 130,000-square-foot building is to be constructed on a university campus. You just received two sets of estimates: physical area and furnishings percentages, and the per unit cost factors, as shown below. Estimate the cost of the building and its furnishings. Type of Usage Classrooms Laboratories Offices Area, % of 130,000 27 37 36 Cost per ft², $ 128 188 113 153 28 Furnishings-labs Furnishings-all others The estimated cost of the building and its furnishings is $ 22 78
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 1 images

Blurred answer
Knowledge Booster
Savings
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education