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A geotechnical engineering firm submitted a project bid of h

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A geotechnical engineering firm submitted a project bid of h [#permalink] New post 14 Jun 2013, 10:15
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A geotechnical engineering firm submitted a project bid of half a million dollars for a major construction project and has now won the contract. Given the only expenses for the project will be labor and materials, will the company generate a profit in excess of $150,000?

(1) The cost for materials accounted for one third of the company's total cost.

(2) The cost of labor was less than the company's profit.

I do not have both OE and OA. First response with the explanation will receive a kudos.... :)
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Re: A geotechnical engineering firm submitted a project bid of h [#permalink] New post 14 Jun 2013, 11:43
Expert's post
atalpanditgmat wrote:
A geotechnical engineering firm submitted a project bid of half a million dollars for a major construction project and has now won the contract. Given the only expenses for the project will be labor and materials, will the company generate a profit in excess of $150,000?

(1) The cost for materials accounted for one third of the company's total cost.

(2) The cost of labor was less than the company's profit.

I do not have both OE and OA. First response with the explanation will receive a kudos.... :)


"Stolen" GMAT Prep question:
Quote:
A construction company was paid a total of $500,000 for a construction project. The company's only costs for the project were for labor and materials. Was the company's profit greater than $150,000?

(1) The company's total cost was three times its cost for materials.
(2) The company's profit was greater than its cost for labor


Discussed here: a-construction-company-was-paid-a-total-of-500-000-for-a-97745.html
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Re: A geotechnical engineering firm submitted a project bid of h   [#permalink] 14 Jun 2013, 11:43
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A geotechnical engineering firm submitted a project bid of h

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