Time is the Enemy Quiz

What is the one factor that all of the Overhead expenses have in common?

What happens if you don’t make enough money to pay the overhead expenses by the time they have to be paid?

How do you run a business by the week?

What is the definition of Break-Even?

For what reason do you want to educate your crew foreman and every crew member to understand the basic information, track and report the labor time and material dollars spent on the job each day?

What is the benefit of monitoring and knowing your daily GP?

This drives the business, the key ratio one would use to measure the success of their business.

Which numbers does your manager need to know in order to know how much Gross Profit each production unit needs to produce to cover the Overhead and to make a Net Profit each week?

(Select all that apply)

You have the following:
Weekly Overhead = $11,546
Desired Net Profit = $6,700
Crew members =5
Days worked a week = 5 days

You have:
Weekly Overhead = $20,000
Desired Net Profit = $15,000
Crew members =25
Days worked in a week= 6 days

In construction, we use _________ to measure success or your economic engine?

If a company with 1 crew member produced $3,500 in a 5-day week to break even. What would be the amount you must expect your crew member to produce each day if you want to get 20% more Gross Profit?

A crew member worked 45 hours in a week. How many Man Days did he work in that week?

Compute your GPMD:

A crew member produced $2,500 in a 5-day week. What was the GPMD?”

Determine how much GP each man should produce per Week per Day:
Overhead Expenses: $10,000
Targeted Net Profit: $2,500
Production Units: 10 Men
They work 7 days a week

Which of the following are the 4 steps to determine your GPMD (select all that apply)