Question

effrey wants to get his truck custom-painted, so he is researching prices for different painting companies. He has found the following information: Assume that all four companies will take 5 hours to complete the job and will use $240 in materials. Which company will give Jeffrey the lowest price

Answer 1

Answer:

Company  4

Explanation:

We can calculate which company is giving Jeffrey the lowest price by calculating the amount of each company separately. We can calculate the amount by multiplying the number of hours and per hour charge of each company and Material cost into material loading percentage then adding them both up in order to reach the final price

DATA

Hours = 5

Material = $240

                        Per hour charge     Material loading percentage

Company  1              $57                                21.5%

Company  2             $52.5                            24.75%

Company  3             $48.95                          28.2%

Company  4             $46.2                             30.5%

Solution

                        Price for painting              Working

Company  1              $336.6                    (5x57) + (240 x 21.5%)

Company  2             $321.9                  (5x52.5) + (240 x 24.75%)

Company  3             $312.43                 (5x48.95) + (240 x 28.2%)

Company  4             $304.2                   (5x46.2) + (240 x 30.5%)

Company 4 is giving the lowest price of $304.2