Based on the hours already completed, and the estimated hours to complete the remaining tasks for both the fall and spring semesters, an engineering services budget was created as shown in the figure below. All of the team members were assigned entry level engineering wages with the exception of the team leader who was assigned a level 2 engineer salary, the faculty advisors were assigned the salary of an engineering direction, and the industry advisor was assigned a senior engineering associate salary. Overhead fees were calculated to be 150% and go towards operating the engineering firm. A direct cost of $100 was included to cover software and site visit fees. Finally, a 10% fee was included to calculate the profit for the engineering firm.
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