albert just started a new electrical construction business. when he finished his first job, he had $889.81…

albert just started a new electrical construction business. when he finished his first job, he had $889.81 of conduit, wire, hangers, and other materials left over once the job was completed which the client had been billed for on the contract. he took this material to his shop and warehoused it. on the next job he bid, he could use 49% of the left - over material from the first job. he, of course, quoted buying all new material for the new job. if albert bids the new job for $5045, and he estimated a profit on this job of 28%. how much is the total profit for this second job once he adds in the reused materials from the first job? round to the nearest cent. your answer: answer units

albert just started a new electrical construction business. when he finished his first job, he had $889.81 of conduit, wire, hangers, and other materials left over once the job was completed which the client had been billed for on the contract. he took this material to his shop and warehoused it. on the next job he bid, he could use 49% of the left - over material from the first job. he, of course, quoted buying all new material for the new job. if albert bids the new job for $5045, and he estimated a profit on this job of 28%. how much is the total profit for this second job once he adds in the reused materials from the first job? round to the nearest cent. your answer: answer units

Answer

Explanation:

Step1: Calculate cost of new materials

The bid for the new job is $5045. Let the cost of new - materials be $x$. Since he can use 49% of the left - over material from the first job, the cost of new materials is $(1 - 0.49)$ of the total cost of materials for the new job. But we don't need to find the cost of new materials separately. The profit is calculated on the total cost of the job.

Step2: Calculate the total profit

The profit percentage is 28%. The formula for profit $P$ when the bid amount (revenue) is $R$ and the cost is $C$ and the profit percentage $r$ is $P = R\times r$. Here, $R = 5045$ and $r=0.28$. $P=5045\times0.28$ $P = 1412.6$

Answer:

$1412.60$