Project cost calculator
Most cost overruns are a missing contingency line rather than a wrong estimate.
%
%
%
Total cost
2663.40
- Labour
- 1080.00
- Subtotal with contingency
- 2219.50
- Tax
- 443.90
- Labour as a share of the base cost
- 55.96 %
- All-in cost per labour hour
- 110.98
Show the working
- Materials = 850
- Labour hours = 24
- Labour rate = 45
- Contingency = 15
- Tax = 20
- Markup = 0
- Labour = 24 * 45 = 1080
- subtotal = 850 + 1080 = 1930
- Subtotal with contingency = 1930 * (1 + 15/100) = 2219.5
- with_markup = 2219.5 * (1 + 0/100) = 2219.5
- Tax = 2219.5 * 20/100 = 443.9
- Total cost = 2219.5 + 443.9 = 2663.4
- Labour as a share of the base cost = 1930 > 0 ? 1080/1930*100 : 0 = 55.9585
- All-in cost per labour hour = 24 > 0 ? 2663.4/24 : 0 = 110.975
Values are shown to six significant figures here; the arithmetic itself runs on exact fractions and is only rounded where a number is printed.
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The formula
- total = (materials + labour) x (1 + contingency) x (1 + markup) x (1 + tax)