Job Price Calculator

Formula

The formula to calculate the Job Cost is:

\[ \text{JC} = \frac{\text{MC} + \text{LC}}{1 - \frac{\text{M}}{100}} \]

Where:

$\text{JC}$ is the Job Cost
$\text{MC}$ is the Job Materials Cost
$\text{LC}$ is the Labor Costs
$\text{M}$ is the Target Margin (in percentage)

What is a Job Cost?

A Job Cost (JC) is the total cost required to complete a job, including both materials and labor costs. The target margin is factored in to ensure profitability. This calculation helps in determining the price to charge for a job to achieve the desired profit margin.

Example Calculation

Let's consider an example:

Job Materials Cost (MC): $5,000
Labor Costs (LC): $3,000
Target Margin (M): 20%

Using the formula to calculate the Job Cost:

\[ \text{JC} = \frac{5,000 + 3,000}{1 - \frac{20}{100}} = \frac{8,000}{0.8} = 10,000 \text{ dollars} \]

This means that the Job Cost (JC) is $10,000.