Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. What is the value for the total financing cost? A. $1,003,596.17 B. $94,521.89 C. $618,019.37 D. $559,311.71 2. What is the value for cell

image text in transcribed1. What is the value for the total financing cost?

A.

$1,003,596.17

B.

$94,521.89

C.

$618,019.37

D.

$559,311.71

2. What is the value for cell E7?

A.

$27,019,708

B.

$7,803,524

C.

$6,342,319

D.

$129,853

3. What was the total profit on the project? (Original profit - cost of financing)

A.

$3,668,620.00

B.

$2,665,023.83

C.

$3,840,000

D.

$618,019.37

4. What is the value for cell D8?

A.

$17,643,884

B.

$4,199,206

C.

$12,341,817

D.

$14,174,884

5. What is the value of cell A3

A.

$887,346

B.

$568,234

C.

$497,542

D.

$1,361,279

6. What is the value for cell F9?

A.

$514,397.47

B.

$74,391.58

C.

$7,645.20

D.

$131,512.47

Assumptions: You will not be paid until for your first billing until the third month (A3), pick closest answer. Month 1 Month 2 Month 3 Month 4 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14 Month 15 Direct cost indirect cost subtotal markup (11%) total billed retainage withheld (10%) retainage billed $568,234 $1,248,647 $1,944,371 $2,340,606 $2,826,106 $3,341,069 $3,811,927 $4,199,206 $3,909,971 $2,809,180 $1,769,080 $742,691 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $888,234 $1,568,647 $2,264,371 $2,660,606 $3,146,106 $3,661,069 $4,131,927 $4,519,206 $4,229,971 $3,129,180 $2,089,080 $1,062,691 $97,706 $172,551 $249,081 $292,667 $346,072 $402,718 $454,5121 $497,113 $465,297 $344,210) $229,799 $116,896 $985,940 $1,741,198 $2,513,452 $2,953,273 $3,492,178 $4,063,787 $4,586,439 $5,016,319 $4,695,268 $3,473,390 $2,318,879 $1,179,587| $98,594 $174,120 $251,345| $295,327 $349,218 $406,379 $458,644 $501,632 $469,527 $347,339 $231,888 S117,959 3 5 7 10 15 1 $0 B1 4 4. A4 6 A6 8 A8 9 A9 A3 $3,701,971 13 A13 B13 A5 A B AZ 11 A11 B11 12 A12 B12 C12 A15 B15 B3 B4 B5 B6 B7 B8 B9 2 $0 B2 C2 D2 E2 14 A14 B14 C14 D14 C C3 C4 C5 C6 C7 Payment received Total amount billed to date Total cost to date Total amount paid to date Overdraft financing 1.5% each month C8 C9 A10 B10 C10 010 E10 C1 D1 D D4 15 D6 D7 09 D3 E3 D12 C11 011 E11 D8 E8 C13 D13 E13 C15 D15 E15 E E1 E4 E5 E6 E7 E9 E12 E14 F14 F F1 F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 F13 F15 XX XX Total Profit Total Billed Total Paid Total Financing Cost XX Assumptions: You will not be paid until for your first billing until the third month (A3), pick closest answer. Month 1 Month 2 Month 3 Month 4 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Month 13 Month 14 Month 15 Direct cost indirect cost subtotal markup (11%) total billed retainage withheld (10%) retainage billed $568,234 $1,248,647 $1,944,371 $2,340,606 $2,826,106 $3,341,069 $3,811,927 $4,199,206 $3,909,971 $2,809,180 $1,769,080 $742,691 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $320,000 $888,234 $1,568,647 $2,264,371 $2,660,606 $3,146,106 $3,661,069 $4,131,927 $4,519,206 $4,229,971 $3,129,180 $2,089,080 $1,062,691 $97,706 $172,551 $249,081 $292,667 $346,072 $402,718 $454,5121 $497,113 $465,297 $344,210) $229,799 $116,896 $985,940 $1,741,198 $2,513,452 $2,953,273 $3,492,178 $4,063,787 $4,586,439 $5,016,319 $4,695,268 $3,473,390 $2,318,879 $1,179,587| $98,594 $174,120 $251,345| $295,327 $349,218 $406,379 $458,644 $501,632 $469,527 $347,339 $231,888 S117,959 3 5 7 10 15 1 $0 B1 4 4. A4 6 A6 8 A8 9 A9 A3 $3,701,971 13 A13 B13 A5 A B AZ 11 A11 B11 12 A12 B12 C12 A15 B15 B3 B4 B5 B6 B7 B8 B9 2 $0 B2 C2 D2 E2 14 A14 B14 C14 D14 C C3 C4 C5 C6 C7 Payment received Total amount billed to date Total cost to date Total amount paid to date Overdraft financing 1.5% each month C8 C9 A10 B10 C10 010 E10 C1 D1 D D4 15 D6 D7 09 D3 E3 D12 C11 011 E11 D8 E8 C13 D13 E13 C15 D15 E15 E E1 E4 E5 E6 E7 E9 E12 E14 F14 F F1 F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 F13 F15 XX XX Total Profit Total Billed Total Paid Total Financing Cost XX

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cengage Learnings Online General Ledger For Heintz/parrys College Accounting, 2, 2 Terms (12 Months)

Authors: James A. Heintz, Robert W. Parry

22nd Edition

1305669991, 9781305669994

More Books

Students also viewed these Accounting questions

Question

What a re va lues? (p. 5 2)

Answered: 1 week ago

Question

If you were Rob Whittier, how would you resolve this dispute?

Answered: 1 week ago