Utah Contractor Practice Exam

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Prepare for the Utah Contractor Exam with comprehensive quizzes and practical questions. Enhance your knowledge and understanding of contractor roles, industry standards, and Utah-specific regulations with our detailed study materials and expert insights. Start your preparation today!

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If direct costs total $6,500 and represent 55% of a job's bid price, what is the total bid price?

$7,089.74
$9,881.00
$11,818.18
$18,645.11

The correct answer is: $11,818.18

To find the total bid price when you know the direct costs and their percentage of the bid price, you can use the relationship between direct costs and the total bid price. In this context, direct costs are 55% of the bid price, meaning that if you represent the total bid price as a variable (let's say X), the equation would be: 0.55X = $6,500 To solve for X, you divide the total direct costs by the percentage represented as a decimal: X = $6,500 / 0.55 Calculating this gives: X = $11,818.18 This result represents the total bid price. It shows how a percentage relationship can be used to backtrack from direct costs to determine the total financial requirement for a project. Thus, the correct answer is $11,818.18, which reflects the total bid price based on the provided direct costs and their proportion of the overall job cost.