Direct Equipment Cost correct answersEquipment used for a specific item.
Ex: Pump truck and rough terrain forklift
Indirect Equipment Cost correct answersEquipment used throughout a project.
Ex: Bobcat and tower Crain
Direct Labor correct answersWork performed by GC's own crews.
Labor co...
Direct Equipment Cost correct answersEquipment used for a specific item.
Ex: Pump truck and rough terrain forklift
Indirect Equipment Cost correct answersEquipment used throughout a project.
Ex: Bobcat and tower Crain
Direct Labor correct answersWork performed by GC's own crews.
Labor cost include... correct answersBase rate, worker compensation insurance, social security,
unemployment tax, public liability and property damage, fringe benefits (paid vacation, 401k, medical
insurance, etc.), and overtime premiums.
Union Wage correct answersNegotiated by labor contracts between local union and construction
contractor's management
Open-Shop Wage correct answersNegotiated by employer and employee
Prevailing Wage correct answersEstablished for federal and state government funded jobs
Davis-Bacon Act established in 1931
Application of Labor Rates correct answersOpen-Shop Projects - Everyone may be making a different
rate.
Prevailing Wage Projects - Govt. set wages included for foreman, journeyman, and apprentices.
Composite Wage - Different wages for holiday, overtime, weekend, etc.
Social Security Tax (FICA) correct answersProvides retirement benefits to persons who become eligible.
-Employers pay 7.65 percent of each employee's gross earnings
, -Employees match this through employer
Unemployment Compensation Tax correct answers6% on first $7,000 of wages to cover periods of
unemployment.
Paid by contractor.
Missouri - If you are eligible to receive unemployment, your weekly benefit rate in Missouri will be 4% of
your average quarterly wages during the two highest paid quarter of the base period. The maximum
weekly benefit amount is $320. You may receive benefits for a maximum of 20 weeks.
Workers Compensation Insurance correct answersWorkers compensation rate is overseen by state and
ranges from $10 per $100 of wages to $30 per $100.
A low incident rate (EMR) is rewarded.
Public Liability and Property Damage Insurance correct answersProtects the contractor against claims
resulting from employee actions.
Injuries to the public or damage to public property.
2$ - $5 per $100 of base wages
Fringe Benefits correct answersHealth Insurance, pension plan, training programs, paid holidays, and
vacations.
Range in cost of 10-20 percent of base wages.
Labor Burden correct answersTerm used to describe the combination of fringe benefits and payroll taxes.
Additional Considerations correct answersOvertime, premium time, and per diem.
Production Rates correct answersA production rate is defined as the number of units of work produced
by a person in a specified time, usually an hour or a day
Production Rate Progression correct answersProduction rate is typically slow at beginning while learning,
then improves as skill improves, then slows at end.
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