Profit mark-up and GST
Materials | $1165.00 | |
Labour | $ 506.00 | |
Overheads | 30% on materials and labour | $ 501.30 |
Profit mark-up | 50% on total costs | $1086.15 |
Total cost | $3258.45 | |
GST | 10% on total figure | $ 325.84 |
Quotation price | $3584.30 |
In practice, the total quotation price would be rounded up to the nearest whole figure. You would probably round the above price off to $3585.
Learning activity
Audio 5 (mp3 |6|KB)Go to Using contract rates