Engineering >> EconomicsMaterial Markup & Exponential Growthby Michael Friedman
Submitted : Fall 2015 Time is money. In the Electrical world, accurate proposals and biddings can be the difference between losing a bid, and taking home $50,000 for a job. As it’s difficult to accurately bid on jobs without calling a supply/material store for pricing on all material, proposals are often way over priced to leave a safety net for the company, due to this; the business will often lose bids. To save labor in proposing/bidding and to win more bids, a program can be created to quickly and effectively calculate out markups on all material and labor.
The program consists of 3 formulas for markups on material; the formula used depends on the cost. From using this program; formulas can be used to determine average labor saved from random number bids, time calling supply houses, and having to calculate all of the numbers by hand. Using the labor saved from the program; it can be estimated the amount of money saved if the money was put into a 1% growth IRA for 20 years (time of retirement). Related Links:
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