Question

You pay $3,245.64 for materials and $650.00 for labor to wire a basement. If you are paid $4500.00 for the job, you will have a profit of $604.36

True
False

Answer 1

The statement is true; the profit matches the calculated amount. Therefore, the given statement is true.

Step-by-step explanation:

To determine if the statement is true or false, we can calculate the total cost and subtract it from the total payment received.

The total cost of materials and labor is $3245.64 + $650.00 = $3895.64.

The profit is calculated by subtracting the total cost from the payment received: $4500.00 - $3895.64 = $604.36.

Since the calculated profit matches the given profit of $604.36, the statement is true.