Real-Life Math
Math may not play a big role in data entry. However, it plays a
very big role when it comes to figuring out the bill for services rendered.
Jeannette
Marshall is co-owner of a data entry firm. She knows all too well how math
can make or break your profits.
In Marshall's business, she charges
up to $60 per hour for a database design. The database must be designed before
the data can be typed into the computer.
In addition, Marshall has
the client sign a non-disclosure statement, and then the company must give
her a sample record to enter so she can figure out how long it takes.
She
charges 17 cents per line for names, addresses and zip codes, and 1 cent per
field for more than that (such as e-mail addresses, fax numbers or additional
information). If the record includes a fax and phone number, the base fee
is 19 cents per record.
Marshall has approached you to design a custom
database, which will take you five hours to complete. You're then asked to
enter 9,866 records, which include basic information as well as phone numbers,
fax numbers and e-mail addresses.
Determine the following, using Marshall's
fee structure:
- The hourly rate at which records can be entered into the database using
a rate of 8,500 keystrokes per hour with the average record at 75 words/spaces.
- The total amount charged for this job including database design. In addition,
how many hours would it take to complete all record entries,
and how would you break it down into an hourly rate?