# Profit and loss statement | Engineering homework help

DescriptionIn this assignment you will complete some of the work in Excel but still report your answers in a seperate word document.Tasks

1. Design and Engineering consulting firms create project and business budgets based upon a Labor Multiplier Factor. Taking into account that information:
1. What would expect your annual salary to be upon graduation? Convert that salary into an hourly rate (base on 2080 work hours annually)
3. What factors did you consider/take into account when you determined your billing rate?
4. What is a reasonable utilization rate for a staff engineer after graduating from college? Does it change one month, to 6 months, to 1 year after graduation?
2. If your business is expected to have annual revenue of \$9,385,000, Direct Labor Costs of \$2,950,000, and achieve a Profit of 16%, answering the following:
1. What would your total costs (i.e., total expenses) be?
2. What would your Breakeven Multipler be?
3. What would your Target Multiplier be?
4. What is the difference between the Breakeven Multiplier and Labor Multiplier Factor (also known as the Target Multiplier)?