View the step-by-step solution to: You are reviewing a Progress Payment Request on a $2,500,000

This question was answered on Jul 17, 2013. View the Answer
You are reviewing a Progress Payment Request on a $2,500,000 contract with a 90% progress payment rate. The Total Cost Incurred to Date is $2,000,000 and the Total Estimated additional Cost to Complete is $1,000,000. The Loss Ratio Factor is 83.3%. Currently, what is the maximum total progress payment amount that you can authorize?
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8468972.xlsx

Solution:
Contract price.

2500000

Section II
Total cost incurred till date
Estimated additional cost
Total cost to complete
Loss ratio factor

2000000
1000000
3000000

Total cost eligioble for...

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