Refer to exercise 2(a). The estimated cost to complete the house by contractors is (choose the best answer): $348,000 B $334,080 $320,160 $299,280 E 2. Mrs. Tolstoy and her husband, Serge, are planning their dream house. The lot for the house sits high on a hill with a beautiful view of the Appalachian Mountains. The plans show the size of the house to be 2,900 square feet. The average price for a lot and house similar to this one has been $120 per square foot. Fortunately, Serge is a retired plumber and feels he can save money by installing the plumbing him- self. Mrs. Tolstoy feels she can take care of the interior decorating. Chapter 5 Estimating Project Times and Costs 153 The following average cost information is available from a local bank that makes loans to local contractors and dispenses progress payments to contractors when spe- cific tasks are verified as complete. Excavation and framing complete Roof and fireplace complete Wiring roughed in Plumbing roughed in Siding on Windows, insulation, walks, plaster, and garage complete 24% 8% 3% 6% 5% 17% 9% 4% Plumbing fixtures installed 10% Exterior paint, light fixtures installed, finish hardware installed 6% Carpet and trim installed 4% Interior decorating 4% Furnace installed Floors laid and finished a. What is the estimated cost for the Tolstoys' house if they use contractors to com- plete all of the house?
Refer to exercise 2(a). The estimated cost to complete the house by contractors is (choose the best answer): $348,000 B $334,080 $320,160 $299,280 E 2. Mrs. Tolstoy and her husband, Serge, are planning their dream house. The lot for the house sits high on a hill with a beautiful view of the Appalachian Mountains. The plans show the size of the house to be 2,900 square feet. The average price for a lot and house similar to this one has been $120 per square foot. Fortunately, Serge is a retired plumber and feels he can save money by installing the plumbing him- self. Mrs. Tolstoy feels she can take care of the interior decorating. Chapter 5 Estimating Project Times and Costs 153 The following average cost information is available from a local bank that makes loans to local contractors and dispenses progress payments to contractors when spe- cific tasks are verified as complete. Excavation and framing complete Roof and fireplace complete Wiring roughed in Plumbing roughed in Siding on Windows, insulation, walks, plaster, and garage complete 24% 8% 3% 6% 5% 17% 9% 4% Plumbing fixtures installed 10% Exterior paint, light fixtures installed, finish hardware installed 6% Carpet and trim installed 4% Interior decorating 4% Furnace installed Floors laid and finished a. What is the estimated cost for the Tolstoys' house if they use contractors to com- plete all of the house?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
Transcribed Image Text:Refer to exercise 2(a). The estimated cost to complete the house by contractors is (choose the best answer):
$348,000
B
$334,080
$320,160
$299,280
E
Transcribed Image Text:2. Mrs. Tolstoy and her husband, Serge, are planning their dream house. The lot for
the house sits high on a hill with a beautiful view of the Appalachian Mountains.
The plans show the size of the house to be 2,900 square feet. The average price for
a lot and house similar to this one has been $120 per square foot. Fortunately, Serge
is a retired plumber and feels he can save money by installing the plumbing him-
self. Mrs. Tolstoy feels she can take care of the interior decorating.
Chapter 5 Estimating Project Times and Costs 153
The following average cost information is available from a local bank that makes
loans to local contractors and dispenses progress payments to contractors when spe-
cific tasks are verified as complete.
Excavation and framing complete
Roof and fireplace complete
Wiring roughed in
Plumbing roughed in
Siding on
Windows, insulation, walks, plaster, and garage complete
24%
8%
3%
6%
5%
17%
9%
4%
Plumbing fixtures installed
10%
Exterior paint, light fixtures installed, finish hardware installed
6%
Carpet and trim installed
4%
Interior decorating
4%
Furnace installed
Floors laid and finished
a. What is the estimated cost for the Tolstoys' house if they use contractors to com-
plete all of the house?
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