Thank you for the replies.
1) Depending upon your location, the $95 per hour labor rate may be high or low. I assume the contractor was a non-union contractor. If non-union, the labor rate is a bit high but really depends upon the area that you reside in. A more common non-union average hourly rate is around $70 to $85. So the $95 may be a little on the high side.
2) Total labor for the job was 1 electrician @ 7 hours and a helper for 1.5 hrs using $95 per hour. Total labor was $817.50
3) The average price per opening (each receptacle, switch and light box), not including the light fixtures averages around $70 for a non-union contractor. You had 16 openings @ $70 = $1,120.00
4) Typical price for the 240 VAC circuits = an average price of $225.00 x 2 circuits = $450.00
5) Typical price for each 120 volt circuit averages $125 each. Let's say you had two 120 VAC circuits = $250.00
6) A sub-panel install for that distance would be approximately $500.00
7) If this were on a bid, lets total everything except the $817.50 labor, since the labor portion is already factored into the openings, circuits, panel, etc.
Openings = $1,120
240 circuits = $450
120 circuits = $250
Sub-Panel = $500
Total = $2,320
The above numbers are typical of what I would charge for such a project (site unseen) and I reside in the Chicago area and am a non-union contractor so this will give you an idea of pricing in a major city.
Typical construction/remodeling projects use the 60/40 rule. Approximately 60% is labor and 40% is material. Based on this common construction methodology used in estimating, equates to $1392 in labor and $928 in materials.
8) Depending upon your location due to hourly labor rates, the $2100 may or may not be a competitive price. All depends upon location. Material prices are similar across the US except Hawaii and Alaska.
9) It is common practice that a contractor mark-up materials on average of 20% to 25% above unit cost. Taxes are pass-thru and not marked-up.
10) Based upon the quantity of openings, the sub and the circuits, I would say the $2100 is a competitive and a fair price in consideration of the amount of work involved. Of course they have a profit built in. At best if a non-union contractor, they are probably paying the supervising electrician around $25 to $35 per hour, yet they are charging $95. They are making their profit based on industry average hourly pricing. Once again, a little high on their end. They are also making profit on the material mark-up. Their profit margin is around 23% for this job which = $483 profit. This is a typical profit margin in the industry.
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