Deck 14: Pricing General Expenses

Question 1

The cost of the electricity used to meet the general power and lighting needs of the job is most often an educated guess.

Answer 1

False

Question 2

General expenses that cannot be priced until the total price of the work is determined are separated from the other general expense items and are priced at the end of the estimate as "____."

A)overhead
B)add-ons
C)overruns
D)conditionals

Answer 2

B

Question 3

Even when the new project is of a different type or size from the contractor's previous projects, an approximate schedule in the form of a bar chart of the major activities can often still be drafted.

Answer 3

True

Question 4

Most general expense items are referred to in the project specifications.

Question 5

The final cleanup expenses include the cost of renting large garbage containers and the cost of constructing and later taking down temporary garbage chutes on the project.

Question 6

The cost of labor, material, and equipment expended on the items that were measured in the quantity takeoffs is usually referred to as the "____" of the work.

A)indirect costs
B)inferred costs
C)extraneous costs
D)direct costs

Question 7

The "____" of a project comprise all of the additional, indirect costs that are also necessary to facilitate the construction of the project.

A)general expenses
B)direct costs
C)indirect costs
D)extraneous costs

Question 8

Layout is an allowance for the cost of helpers assisting a surveyor, an engineer, or the project superintendent with survey work involved in setting out the lines and levels of the project.

Question 9

Direct costs are sometimes titled General Requirements of the Project or Project Overheads.

Question 10

Worker's Compensation and Employer's Liability ____ is required by state regulations; contributions are collected to provide a fund from which workers who are injured while working or as a result of working are compensated.

A)Bond
B)Insurance
C)Pledge
D)Security

Question 11

The price of general expenses can be a substantial component of the bid, amounting to 15% and more of the total price in some cases.

Question 12

On a small to medium-sized project, the ____ sheet can be used as a checklist that allows the estimator to choose those items that are required on the project under consideration.

A)Detail Expense
B)Job Expense
C)General Expense
D)Overhead Expense

Question 13

________ refer(s)to a federal government requirement to provide retirement benefits to persons who become eligible.

A)Social Security Tax
B)Unemployment Compensation Tax
C)Worker's Compensation and Employer's Liability Insurance
D)Fringe Benefits

Question 14

Which of the following includes a number of items that could be contained in a contract of employment or a union collective agreement?

A)Public liability insurance
B)Property damage insurance
C)Social Security Tax
D)Fringe benefits

Question 15

____ refer to the cost of removing water from excavations and in some cases from the basements of projects under construction.

A)Dewatering expenses
B)Dehydration expenses
C)Environmental expenses
D)Preparation expenses

Question 16

Payroll taxes that apply to the total labor price of the estimate can be handled with an add-on.

Question 17

Many general expense items are calculated as a function of the duration of the project.

Question 18

Meeting general safety requirements can add up to _______ of the labor bill on a medium to large project.

A)1.5%
B)2.5%
C)5%
D)7.5%

Question 19

____ require construction sites to have first aid kits sufficient to meet the needs of the project.

A)Environmental Regulations
B)Material Safety Regulations
C)Industrial Operations Regulations
D)Occupational Health and Safety Regulations

Question 20

The ____ is the extra payment over and above the basic wage rate that is paid to employees who work time in excess of the standard work day or work week.

A)overtime premium
B)completion premium
C)delay premium
D)delivery premium