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  • Asd

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    Mohammad Nouman Kakar
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    The document summarizes the estimated costs, bid price, payment schedule, and profit calculation for a construction project with a total estimated cost of $2,000,000 and bid price of $2,200,000 over 8 months. A 10% retainage is withheld from the first 50% of payments. Payments are made 30 days after invoicing and interest of 0.75% per month is charged on outstanding cash requirements. The total profit earned was $171,206.

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    The document summarizes the estimated costs, bid price, payment schedule, and profit calculation for a construction project with a total estimated cost of $2,000,000 and bid price of $2,200,000 over 8 months. A 10% retainage is withheld from the first 50% of payments. Payments are made 30 days after invoicing and interest of 0.75% per month is charged on outstanding cash requirements. The total profit earned was $171,206.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    3 views1 page

    Asd

    Uploaded by

    Mohammad Nouman Kakar
    The document summarizes the estimated costs, bid price, payment schedule, and profit calculation for a construction project with a total estimated cost of $2,000,000 and bid price of $2,200,000 over 8 months. A 10% retainage is withheld from the first 50% of payments. Payments are made 30 days after invoicing and interest of 0.75% per month is charged on outstanding cash requirements. The total profit earned was $171,206.

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    © All Rights Reserved
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    of 1

    Estimated Cost 2000000

    Bid Price 2200000


    Cost of Money (interest)=0.0075=0.75%/month
    Invoice Date=5th Month
    Payment Received 30 Days Later
    Retainage=10% of the first 50% of contract amount
    Month 1 2 3 4 5 6 7 8 Total
    Est.Cost 200000 400000 400000 400000 400000 200000 2000000
    Invoice amt 198000 396000 396000 440000 440000 330000 2200000
    Amt received 198000 396000 396000 440000 440000 330000 2200000
    Cash requ'd 200000 601500 808011.25 818071.3344 828206.8694 594418.4209 158876.5591 -169931.8667
    Interest 1500 4511.25 6060.084375 6135.535008 6211.55152 4458.138157 1191.574193 -1274.489001 28793.64425
    Total 201500 606011.25 814071.3344 824206.8694 834418.4209 598876.5591 160068.1333 -171206.3557 3867946.211
    Profit 171206.3557

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