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Custom Homebuilders (CH) designs and constructs high-end homes on large lots owned by customers. CH has developed several formulas, which it uses to quote jobs. These include costs for materials, labor, and other costs. These estimates are also dependent on the region of the country a particular customer lives. The following are the cost estimates for one region in the Midwest. Administrative costs Building costs per square foot (basic) Building costs- per square foot (moderate) Building costs per square foot (luxury) Appliances (basic) Appliances (moderate) Appliances (luxury) Utilities costs (if required) $: 20,000 $ $ 90 150 225 $ $ 15,000 $ 25,000 $ 45,000 $ 40,000 Required: A customer has asked CH for an estimate on a basic, 1,500 square-foot home on a vacant lot, which already has utilities installed. The client is a cooking enthusiast, and also wants luxury appliances, Based on the engineering estimates above, what will such a house cost to build?

Custom Homebuilders (CH) designs and constructs high-end homes on large lots owned by customers. CH has developed several formulas, which it uses to quote jobs. These include costs for materials, labor, and other costs. These estimates are also dependent on the region of the country a particular customer lives. The following are the cost estimates for one region in the Midwest. Administrative costs Building costs per square foot (basic) Building costs- per square foot (moderate) Building costs per square foot (luxury) Appliances (basic) Appliances (moderate) Appliances (luxury) Utilities costs (if required) $: 20,000 $ $ 90 150 225 $ $ 15,000 $ 25,000 $ 45,000 $ 40,000 Required: A customer has asked CH for an estimate on a basic, 1,500 square-foot home on a vacant lot, which already has utilities installed. The client is a cooking enthusiast, and also wants luxury appliances, Based on the engineering estimates above, what will such a house cost to build?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Answer is complete but not entirely correct. Administrative costs Building costs Appliances Utilities costs Estimated cost $ $ 20,000 450,000 X 25,000 X 40,000 X 535,000
Transcribed Image Text:Answer is complete but not entirely correct. Administrative costs Building costs Appliances Utilities costs Estimated cost $ $ 20,000 450,000 X 25,000 X 40,000 X 535,000
Custom Homebuilders (CH) designs and constructs high-end homes on large lots owned by customers. CH has developed several formulas, which it uses to quote jobs. These include costs for materials, labor, and other costs. These estimates are also dependent on the region of the country a particular customer lives. The following are the cost estimates for one region in the Midwest. Administrative costs Building costs per square foot (basic) Building costs per square foot (moderate) Building costs per square foot (luxury) Appliances (basic) Appliances (moderate) Appliances (luxury) Utilities costs (if required) $ $ S $ $ 15,000 $ 25,000 $ 45,000 $40,000 20,000 90 150 225 Required: A customer has asked CH for an estimate on a basic, 1,500 square-foot home on a vacant lot, which already has utilities installed. The client is a cooking enthusiast, and also wants luxury appliances, Based on the engineering estimates above, what will such a house cost to build?
Transcribed Image Text:Custom Homebuilders (CH) designs and constructs high-end homes on large lots owned by customers. CH has developed several formulas, which it uses to quote jobs. These include costs for materials, labor, and other costs. These estimates are also dependent on the region of the country a particular customer lives. The following are the cost estimates for one region in the Midwest. Administrative costs Building costs per square foot (basic) Building costs per square foot (moderate) Building costs per square foot (luxury) Appliances (basic) Appliances (moderate) Appliances (luxury) Utilities costs (if required) $ $ S $ $ 15,000 $ 25,000 $ 45,000 $40,000 20,000 90 150 225 Required: A customer has asked CH for an estimate on a basic, 1,500 square-foot home on a vacant lot, which already has utilities installed. The client is a cooking enthusiast, and also wants luxury appliances, Based on the engineering estimates above, what will such a house cost to build?
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