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If direct cost are $37000 and overhead is 12% and profit is 5% what is the selling price?
$44,578.31 (((37000 divided by 83%.... 12%+5%= 17% 100%-17%=83%
After your bid for a public-works job has been accepted by the awarding authority, you recognize that you incorrectly listed one of your subcontractors. To correct your error, what you should do?
Notify the awarding authority and request permission to make the necessary changes due your clerical error
If a general contractor fails to pay a subcontractor and the general files for bankruptcy:
The sub would probably be awarded a portion of his claim
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