A project manager is tracking costs on a commercial building project. The budget allocates 35% for materials, 40% for labor, 15% for equipment, and 10% for overhead. If the total project budget is $3.5 million, what is the materials budget?
Correct Answer
B) $1,225,000
Materials budget = Total budget × Materials percentage = $3,500,000 × 35% = $1,225,000.
Why This Is the Correct Answer
Materials budget = Total budget × Materials percentage = $3,500,000 × 35% = $1,225,000.
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