In 2022, Leo construction will work on a residential project that lasts 4 months. The direct...

  
 

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In 2022, Leo construction will work on a residential project that lasts 4 months. The direct costs of the residential project are shown in the following bar chart. $160,000 A 1 $120,000 B 2 $90,000 C D 1 3 $80,000 4 Assuming $5,000 indirect cost per month, and 11.4% markup. If the retainage is 9% throughout the project, finance charge is 1% per month, and payments will be billed at the end of the month and will be received one month later. How much is the last payment the contractor is expected to receive? End of Month Monthly Cost (Direct & Indirect Cost) Monthly Billing Monthly Income Retainage Overdraft (before interest) Interest (1%) Overdraft (deduct interest) Overdraft (add income) 0 2 3 4 5 In 2022, Leo construction will work on a residential project that lasts 4 months. The direct costs of the residential project are shown in the following bar chart. $160,000 A 1 $120,000 B 2 $90,000 C D 1 3 $80,000 4 Assuming $5,000 indirect cost per month, and 11.4% markup. If the retainage is 9% throughout the project, finance charge is 1% per month, and payments will be billed at the end of the month and will be received one month later. How much is the last payment the contractor is expected to receive? End of Month Monthly Cost (Direct & Indirect Cost) Monthly Billing Monthly Income Retainage Overdraft (before interest) Interest (1%) Overdraft (deduct interest) Overdraft (add income) 0 2 3 4 5

Answer rating: 100% (QA)

To calculate the total indirect cost for the project we can use the given information Indirect Cost per Month 5000 Project Duration 4 months Total Ind... View the full answer