Assignment Example | Topics and Well Written Essays - 250 words - 119

Assignment ExampleMalachai started the personal line of credit when he was in college and now he owns and manages the small service-oriented production line by providing price quotes, hiring student painters, purchasing supplies, and advertising their services. He currently employs 22 painters and pays them $10.50 per hour for painting and prep-work (scraping old paint, caulking, cleaning and removing bugs from the athletic fields that are to be painted).In order to be profitable, Malachai has learned to provide superior service to his customers, including free price quotes. He builds in his profit-margin of 25% to all quotes by first computing his total bes, then adding 25% of that fleck to determine how much to charge the customer. Using his knowledge of the expenses for labor, supplies, and equipment, he has developed the following informationb. (5 points) The mark family needs to get the outside of their house painted, including the siding as well as the white trim. Malach ai estimates that domain of the exterior of the house is about 8,000 square feet. Based on the condition of the Marks house he also estimates that he will need 2 workers for 8 hours to do the prep-work. How much should Malachai quote for the cost of this job, including labor, supplies, and profit?c. (5 points) Write a formula reflecting the price estimate for a house based on the number of square feet that need to be painted. Assume that Malachai can accurately estimate the painted area (in square feet) and the amount of time it takes to complete the prep-work on a job.d. (10 points) What do you think? Using the reason from above, explain in a well-structured essay the importance of accurate cost estimates in a service-oriented business such as this. Research at least one other service-oriented business such as a restaurant, dry-cleaners, house-cleaning service and describe how they set