18: Know and Understand
Answer the following questions using the information provided in this chapter.
A complete analysis of an existing landscape for maintenance costs or for a new installation is a site _____.
A. measurement
B. assessment
C. evaluation
D. investigation
True or False?
An assessment for maintenance work is performed to determine the possibilities and limitations of the site.
A. True
B. False
Which of the following best describes a landscape estimate?
A. A detailed list of materials and labor.
B. Profit margin subtracted from total price.
C. A rough calculation of a project’s cost.
D. The rough total of all indirect costs.
Which of the following components are included in a landscape estimate?
A. Cost of labor, machinery, waste disposal, and permits.
B. Cost of plant and mulch materials, and soil amendments.
C. Cost of overhead, subcontractor, and hardscape materials.
D. All of the above.
Which of the following is a tabulation of all the landscape components and the costs associated with each component?
A. Site takeoff.
B. Site assessment.
C. Site measurement.
D. Site design.
True or False?
A low bid may reduce your profit margin on a job.
A. True
B. False
What is the square footage of a rectangular lot that measures 65′ × 95′?
A. 9175 ft²
B. 6175 ft²
C. 3175 ft²
D. 7175 ft²
When calculating the profit margin on net profit, the total revenue must be revenue _____.
A. plus project cost
B. minus project cost
C. after taxes
D. before taxes
Which of the following is an indirect cost included in the project cost?
A. Labor.
B. Plant material.
C. Overhead.
D. Mileage.
Which of the following is a direct cost included in a project cost?
A. Mortgage.
B. Labor.
C. Utilities.
D. Vehicle payment.
Which of the following is considered burden?
A. Insurance premiums.
B. Accounting fees.
C. Mortgage payments.
D. All of the above.
An expense that must be met regularly, typically on a monthly basis is a(n) _____.
A. fixed expense
B. variable expense
C. operational expense
D. All of the above.
Of the following, which most accurately describes the calculation of labor costs?
A. Calculated by the efficiency of individual workers.
B. Calculated by the condition of the equipment.
C. Calculated by the task time required to complete the job.
D. Calculated by fuel, mileage, and freight charges.
Which of the following is the reduction of an asset’s value over time?
A. Reduction.
B. Depreciation.
C. Deduction.
D. Itemization.
What are the advantages to renting equipment?
A. Limited capital needed.
B. Costs for maintenance and repair.
C. Storage space needs and costs.
D. All of the above.
Which of the following statements is true?
A. Businesses use GPS to track fuel prices.
B. Subcontractor’s fees are included in a quote.
C. The mileage rate is set by the IRS.
D. All of the above.
Why would a contingency be included on a bid or quote?
A. To cover unpredictable situations.
B. To cover the additional costs.
C. To maintain the profit margin.
D. All of the above.
Why would a business owner charge by the hour instead of giving a set price for a job?
A. It is easier to account for each cost of a project.
B. To simplify the accounting needed for the job.
C. To ensure payment for the time spent working.
D. All of the above.
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