Question

Which three costs are examples of resource cost rates?

a. The cost of a task buffer
b. The cost of software to help manage a project
c. The cost of labor for a project team
d. The cost of materials when building a house

Answer 1

Resource cost rates are incurred when utilizing resources for a project. The three examples are the cost of labor, software, and materials.

Step-by-step explanation:

Resource cost rates are examples of costs that are incurred when utilizing resources for a project. The three costs that can be considered as resource cost rates are:

1. The cost of labor for a project team: This includes the wages or salaries paid to the individuals who are working on the project.
2. The cost of software to help manage a project: This refers to the expenses associated with acquiring and using software tools for project management.
3. The cost of materials when building a house: This includes the expenses for the materials required in the construction of the house, such as wood, cement, or bricks.