1. Make a bid summary template on a computer spreadsheet. Determine all formulas in-

cluding a percentage formula next to the general conditions subtotal. Check all opera-

tions and save this template for future use.

2. Determine what the business taxes required for a general contractor are for your local

area. Add 1% for liability insurance and enter it in a first-run bid summary form.

3. Modify the template created in exercise 1 to automatically calculate and include an ag-

gregate (state and local) sales tax of 8.4% in the bid total.

4. Determine the percentages of the bid total that are attributable to the direct work and

the subcontracts. Use the direct work after the addition of the labor burden. Would

these percentages be useful as a guide on similar estimates?