Business

Calculate the direct cost of labor for the project team using the following data. What are the costs for the individual project team members? What is the overall direct cost of labor?

Name       Hours Needed       Overhead Charge       Personal Time Rate      Hourly Rate       Total Direct Labor Cost
Johnathan               40                 1.25                  1.12           15/hr
Susan              100                 1.75                  1.12           21/hr
Debra               80                 1.35                    0           11/hr
Bobby               55                 1.8                  1.13           44/hr
2. Bottom-up project budgets are said to provide more detail and, as a result, be more accurate; therefore, why are top-down budgets used in projects? When, if at all, would you recommend using such an approach?

3. Assume that overhead is charged on a flat rate basis. Each member of the project is assigned an overhead charge of $300/week. What would be the direct cost of labor for an employee, given that he or she is assigned to the project for 120 hours at $10.50?

4. What is the difference between direct and indirect costs? What is the difference between fixed and variable costs? Define, compare, and contrast each within the context of a project.

5. Calculate the direct cost of labor for the project team using the following data. What are the costs for the individual project team members? What is the overall direct cost of labor?

Name       Hours Needed        Overhead Charge        Personal Time Rate       Hourly Rate         Total Direct Labor Cost
Jonathan               60                  1.35                   1.12            17/hr
Susan              120                  1.8                   1.12            31/hr
Debra               40                  1.35                     0             9/hr
Bobby               65                  1.8                   1.13            34/hr

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