For now, here is what you need to understand when estimating a house:

Labor Cost is roughly $20/hour multiplied by the number of hours on the job.

Material Cost is the number of gallons of paint you plan to use multiplied by the cost per gallon of the paint that you are using.

Total Cost = Labor Cost + Material Cost

Then we take that number and add on your markup or margin.

Price = Total Cost + Markup

Painting Estimate Example:

We estimate this job is going to take 20 hours and use 7 gallons of paint. The paint costs $22/gallon.

20 hours x $20/hour = $400 for labor

7 gallons x $22/gallon = $154 for materials

Total Cost= $554