Can someone please explain the logic behind solving this? Also, the answer says you should divide the hourly rate by the complement of the profit, but you should multiply them to get the answer listed.
The profit MARGIN is calculated by DIVIDING the break even rate by “complement of desired profit” which translate to 100%-15%=85%…
64.4 / .085 = 75.76 this gives the hourly rate with 15% profit.
My understanding is that the multiplication is only to proof/check that the answer we got by DIVIDING the break even by complement of profit is correct.
AND It wouldn’t be correct if we try to find the 15% profit by multiplying 15%*64.4 =9.66
Than 9.66+64.4=$74.06 (wrong answer)…
My understanding of point of the question:
if you trying to find
10% profit = divide break even by 100%-10% = 90% (64.4 / .9= 71.56)
20% profit = divide “break even” by 100%-20%=80% (64.4 / .8 = 80.5)
and soo on…
Can you answer my question I posted yesterday? I am still desperate.
Where is your question from yesterday?
I can not understand the logic of the question 64 out of 65 on test Exam2. How did the architect calculated hours available they get the 595 hrs???
Due to the time constraints on the project, the architect submitted two design teams, each contributing 50% of the time budget for the full 8 weeks of design. The owner has notified the architect that five weeks have been added to the design timeline.
Assuming that team 2 will work the full 13 weeks on the project and maintain their same pace for the 13-week schedule as intended for the 8-week schedule, what percentage of the time will team 1 contribute to the project? Round to the nearest percentage.
Per the Fee Distribution by Phase document, the architect has scheduled 595 hours for the project. With the original 8-week schedule, each team would have contributed 297.5 hours, which allows for each team to contribute approximately 37 hours each week to the project. If team 2 continues that pace and provides 37 hours per week for 13 weeks, the total hours contributed by team 2 will be 481 hours.
595 hours / 2 teams = 297.5 hours
Team 2: 37 hours x 13 weeks = 481 hours
481 hours / 595 hours = 80.8% of the time
Team 1: 595 – 481 = 114 hours
114 hours / 595 hours = 19.2% of the time (round down to 19%)
copy of the fee distribution: