Reference no: EM133651458

Problem

Project Cost, Schedule and Resource Management Session 5 Individual Assignment Answer/complete the following questions or problems. Submit your work products to the appropriate Assignments folder by the due date. Ensure each file includes your last name in the file name. The questions carry equal weights. Make sure to Show your work. You can submit Excel file for this assignment. 1. Your firm designs training materials for computer training classes, and you have just received a request to bid on a contract to produce a complete set of training manuals for an 10-session class. From previous experience, you know that your firm follows an 85% learning rate. For this contract, it appears that the effort will be substantial, running 60 hours for the first session. Your firm bills at the rate of $200/hour and the overhead is expected to run a fixed $600 per session. If your profit markup is 20%, what will be the Total Price, the Per Session Price, and at what session will you break even? Answer the following three questions: 1. What is the Total Price? This is what you would charge the customer so that you can have your profit markup of 20% over all of your costs.To calculate this,

1. Figure out the number of hours required per session based on the learning curve. Review the formula we covered in this week's reading.
2. Calculate Session Hours * Hourly Rate for each session.
3. For each session, add the overhead cost to the session cost from (ii).
4. Find the SUM of all costs from (3). This will be the total cost.
5. Now, you need to add the Markup to the total cost in (iv). This will be your Total price.