Item Unit Total Expense Cost Quantity Expense gravel
tar/sealant 15¢ per squarefoot 75 ft by 20 ft
10 per hour 25 hours
45.00
The Correct Answer and Explanation is:
To solve for the Total Expense of each item, we’ll calculate based on the given unit cost and quantity for each.
1. Gravel
- Unit Cost: $15 per cubic yard
- Quantity: 12½ cubic yards = 12.5 cubic yards
- Total Expense = $15 × 12.5 = $187.50
2. Tar/Sealant
- Unit Cost: 15¢ per square foot = $0.15 per square foot
- Area = 75 ft × 20 ft = 1,500 square feet
- Total Expense = $0.15 × 1,500 = $225.00
3. Labor
- Unit Cost: $10 per hour
- Quantity: 25 hours
- Total Expense = $10 × 25 = $250.00
4. Insurance
- Total Expense = $45.00 (given)
Final Table with Calculations
| Item Expense | Unit Cost | Quantity | Total Expense |
|---|---|---|---|
| Gravel | $15 per cubic yard | 12½ cubic yards | $187.50 |
| Tar/Sealant | $0.15 per square foot | 75 ft by 20 ft | $225.00 |
| Labor | $10 per hour | 25 hours | $250.00 |
| Insurance | Not applicable | Not applicable | $45.00 |
Explanation
The table above outlines a cost analysis for a project that involves four main expenses: gravel, tar/sealant, labor, and insurance. Each item’s total expense is calculated based on the given unit cost and quantity used.
For gravel, the unit cost is $15 per cubic yard. Since the project uses 12.5 cubic yards, the total cost for gravel is calculated by multiplying $15 by 12.5, resulting in $187.50.
For tar/sealant, the area to be covered is given as 75 feet by 20 feet, which equals 1,500 square feet. At 15¢ per square foot (or $0.15), the cost is determined by multiplying $0.15 by 1,500. This yields a total of $225.00 for tar/sealant.
Labor is billed at $10 per hour for a total of 25 hours. Therefore, the labor cost is $10 multiplied by 25, which equals $250.00.
Finally, the insurance cost is a fixed value listed at $45.00. Since it’s not calculated based on quantity or unit rate, it’s simply added as-is to the total.
These individual expenses are important for accurate budgeting and cost management in project planning. Understanding how each component contributes to the total cost helps in assessing resource allocation and ensuring financial efficiency. The total of all expenses—$187.50 + $225.00 + $250.00 + $45.00—would be $707.50, representing the complete projected cost of the job.
