No matter what type of work you are contracting to perform, it is important to create an accurate cost estimate when you are bidding for the job. Whether you are contracting to do construction work, software development or some other type of job, a cost estimate helps set the employer's expectations concerning timelines and costs. The estimate should not only include your hourly contract rate but also the costs of materials and parts you will need to complete the job.
Instructions
1. Place your company's name, address and contact information at the top of the estimate.
2. Create two sections, one labeled "Capital Expenditures" and the other labelled "Labor Costs."
3. In the "Capital Expenditures" section, list the raw materials and/or parts that will be needed to do the job. Include the quantity and price of all materials.
4. In the "Labor Costs" section, estimate the number of hours of labor that will be needed per day, then multiply that number by the employees' hourly pay rate. For example, if three of your employees will be working eight hours each day and they each cost $20 an hour, multiply 3 x 8 to find the number of hours of labor (24). Then, multiply $20 x 24 to get your total labor costs for the day ($480).
5. Add up the dollar amounts in each section, and show the total "Capital Expenditures" and the total "Labor Costs." Add those two totals together to get the complete "Cost Estimate."
Related posts
You can estimate the home-building cost per square foot.When assessing the overall cost to build a new home, it all comes down to the price you pay per square foot. Construc...
Estimating house building costs is the first step toward controlling themBuilding a new house is a major undertaking. It is a multi-phase project with disaster potential every step of the way. For...
Vinyl siding can protect a home for 20 to 30 years and never requires painting. Vinyl siding can add beauty and charm as well as value to many homes--but vinyl siding can also be pricey. Before be...
Estimate the Cost of Kitchen CabinetsNew kitchen cabinets usually are the main expense in a kitchen remodeling. The cabinets set the tone for the entire kitchen because they take up the most space...
Before remodeling, estimate the cost versus value to make sure it's worth it.A lot more factors go into estimating the cost of remodeling your home than just materials and labor. On top of these,...
