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26 Dec 2024, 09:00
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Raw Materials Cost for 2024: $320,000,000
Recycling/Waste Management Cost for 2024: $57,000,000
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
35%
(medium)
Question Stats:
79% (02:41) correct
21%
(03:28)
wrong
based on 497
sessions
History
Date
Time
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Not Attempted Yet
12 Days of Christmas 2024 - 2025 Competition with $40,000 of Prizes
At Skyline Construction, project materials represented 38% of its annual project costs of $925,000,000 in 2023. Due to new environmental regulations and a shift toward sustainable building, project materials will account for 42% of total project costs in 2024, while total project costs are expected to decrease by 3%. Within project materials expenses, raw materials consistently make up 85% of costs, while recycling and waste management account for the remaining 15%.
In the table, select for Raw Materials Cost for 2024 the approximate projected cost devoted to raw materials, and select for Recycling/Waste Management Cost for 2024 the approximate projected cost devoted to recycling and waste management. Make only two selections, one in each column.
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At Skyline Construction, project materials represented 38% of its annual project costs of $925,000,000 in 2023. Due to new environmental regulations and a shift toward sustainable building, project materials will account for 42% of total project costs in 2024, while total project costs are expected to decrease by 3%. Within project materials expenses, raw materials consistently make up 85% of costs, while recycling and waste management account for the remaining 15%.
In the table, select for Raw Materials Cost for 2024 the approximate projected cost devoted to raw materials, and select for Recycling/Waste Management Cost for 2024 the approximate projected cost devoted to recycling and waste management. Make only two selections, one in each column.
| Raw Materials Cost for 2024 | Recycling/Waste Management Cost for 2024 | |
| $375,000,000 | ||
| $340,000,000 | ||
| $320,000,000 | ||
| $70,000,000 | ||
| $57,000,000 |
ShowHide Answer
Official Answer
Raw Materials Cost for 2024: $320,000,000
Recycling/Waste Management Cost for 2024: $57,000,000
26 Dec 2024, 10:00
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Bunuel
GMAT Club's Official Explanation:
Total project costs for 2024 = $925,000,000 × (1 - 0.03) ≈ $900,000,000
Project materials for 2024 = $900,000,000 × 0.42 ≈ $380,000,000
- Raw materials = $380,000,000 × 0.85 ≈ $320,000,000
- Recycling/waste = $380,000,000 × 0.15 ≈ $57,000,000
Thus, the approximate costs are:
- Raw materials cost: $320,000,000
- Recycling/waste management cost: $57,000,000
General Discussion
26 Dec 2024, 09:44
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Bunuel
Best done on calculator
Total project cost will decrease by 3%, which means
project costs of 2024 = 97% of project costs of 2023 = 897,750,000
Project material cost = 42% of project costs = 376,245,000
Raw materials cost = 85% of project material cost = 319,786,250
Recycling and waste management cost = 15% of project material cost = 56436750
Closest answer choices = (Raw materials cost, Recycling and waste management cost) = (\(32*10^7, 57*10^6\))
