Morley Fast, a contractor, built a warehouse complex in Canmore for the following costs: land, $12,000; concrete & steel' $34,500; plumbing & electrical, $48,990; general carpentry & roof, $42,340; and other expenses, $34,220.

Question

Question1: What percent of the total cost is represented by each category of expenses?
Question2: When the project was completed, Morley sold the entire complex for 185% of its cost. What was the selling price of the complex?

Answer 1

Answer1: Land: 12,000/121,050 = 9.9%
Concrete & Steel: 34,500/121,050 = 28.6%
Plumbing & Electrical: 48,990/121,050 = 40.5%
General Carpentry & Roof: 42,340/121,050 = 35.0%
Other Expenses: 34,220/121,050 = 28.4%

Answer2: Selling Price = 121,050 x 1.85 = 222,567.50