Time and Materials
Total billable from hours, rate, and material cost.
Example
You enter
- Hours 20
- Labor rate ($/hr) 50
- Material cost ($) 500
- Overhead (percent) 10
- Profit (percent) 15
You get
- Labor $1000
- Overhead $150
- Subtotal 1650
- Profit $247.5
- Total $1897.5
No published worked example is on file for this calculation. It is checked against a hand-worked derivation of its method and an independent reference test.
Details, formula, and sources
Formula or tableTotal billable = (labor_hours × hourly_rate + materials_cost) × (1 + overhead%) × (1 + profit%).
Source and editionEngineering-practice billing convention.
Free accessNo licensed source required. The total is definitional arithmetic; the rates, prices, and markup are the user's own figures, and the contract governs which of them are billable.
What governsEstimate. AHJ and licensed professional govern.
API field nameshours, labor_rate_per_hour, material_cost, overhead_percent, profit_percent, labor, overhead, subtotal, profit, total