Tasks Planned Progress (%) Actual Progress (%) BAC ($) AC ($) Over Budget? (Y or N) Behind Schedule? (Y or N) A 100% 90% 10,000 6,000 No Yes B 50% 60% 20,000 14,000 Yes No C 30% 30% 30,000 7,000 No No D 10% 5% 40,000 5,000 Yes Yes For the above project, you have the following information: Time dependent general condition cost (overhead) is $5,000 Markup (gross margin) for the contractor is $10,000 Owner retains 10% of the payments at each payment As the prime contractor, you are submitting your first "application for payment" for this project. How much would be the "Total Net Payment To-Date"? Hint: To solve this problem, you need to: Calculate Total Bid Amount using project total budget, overhead and markup Calculate SOV for each activity For each activity, calculate the "Installed & Stored To-Date" amount through multiplying SOV by "Actual Progress" of each activity. Calculate total of "Installed & Stored To-Date" and deduct retainage