Prepare a bid using the normal formula

Reference no: EM131816542

Question: Competitive Bids Griffy, Rodriguez, and Martinez, a CPA firm, is preparing to bid for a consulting job. Although Alicia Martinez will use her judgment about the market in finalizing the bid, she has asked you toprepare a cost analysis to help in the bidding. You have estimated the costs for the consulting job to be as follows:

Of the $44,000 allocated fixed costs, $35,000 will be incurred even if the job is not undertaken. Alicia normally bids jobs at the sum of (1) 150% of the estimated materials and supplies cost and (2) $75 per estimated labor hour.

1. Prepare a bid using the normal formula.

2. Prepare a minimum bid equal to the additional costs expected to be incurred to complete the job.

3. Prepare a bid that will cover full costs plus a markup for profit equal to 20% of full cost.

Reference no: EM131816542

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