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3 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Liquidated damages are contractual clauses that call for
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an amount to be paid if the contractor does not finish the job on time
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The difference between a bar chart schedule and a Critical Path Method schedule (CPM) is that the CPM includes
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the relationship of the various activities to each other
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A builder is expecting the final payment for 4 jobs. All amounts billed have been paid except for the final billing and the retainage. Each job has had 10% retainage withheld on the amounts paid. The total contract amounts and the final billing for each job are shown below.
Contract Amount Final Billing Job a $6,300 $1,500 Job b $8,750 $1,520 Job c $9,800 $1,900 Job d $13,680 $2,660 What is the total amount the builder should receive for all of the final payments due? |
between $9,001 and $12,000
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(6300+8750+9800+13680)×10%=3853 so 3853+1500+1520+1900+2660=11433
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