Question

Profit is the amount of money that remains after all expenses of a project have been paid. Acme Construction has just completed the construction of a​ building, and Fred​ Jones, the project​ manager, is doing the final accounting. Acme bid​ $232,500 for the project and was awarded a contract for that amount. The cost of​ construction, including​ labor, building​ materials, and other expenses such as equipment rental was​ $198,468. What was the profit on this​ project?The total amount of profit is ​$______.

Answer 1

Answer:

$34032

Step-by-step explanation:

Acme bid​ $232,500 for the project and was awarded a contract for that amount.

The cost of​ construction, including​ labor, building​ materials, and other expenses such as equipment rental was​ $198,468.

We know that,

Profit = The amount of money that remains after all expenses of a project have been paid

Profit = $232,500-$198,468

= $34032

Hence, the profit is $34032.