3. The following is the recap sheet of a unit-price contract as developed by the contractor's estimator. a)Calculate unit prices and the total bid values. b) Excavation 11,580 cy Embankment 9,150 cy Base gravel 5,300 Pavement 2.900 SY Calculate total project cost to the owner. If the contractor had prior knowledge of actual quantities, how could he have bid on the job to increase his profits? Many owners include a clause in the contract document that calls for negotiating a nevw unit price for each item that is found to deviate by more than 10% from the engineer's quantity. Why do you think this clause might be necessary? Assume that the project is completed and actual quantities are as follows: He would have made a higher bid that ensures his profit. This clause is necessary because it increases the total cost of the project for the owner Bid Item Uit Quantity Direct Cost Total bid (S) Unit bid (S) ExcavationCY Embankment CY Aggregate for road base Pavement 15,000 9,500 4,800 42,000 32,000 15,400 CY 2,800 35,500 124,900 12,500 20,000 157,400 SY Totals Job Overhead Marku Total Bid 3. The following is the recap sheet of a unit-price contract as developed by the contractor's estimator. a)Calculate unit prices and the total bid values. b) Excavation 11,580 cy Embankment 9,150 cy Base gravel 5,300 Pavement 2.900 SY Calculate total project cost to the owner. If the contractor had prior knowledge of actual quantities, how could he have bid on the job to increase his profits? Many owners include a clause in the contract document that calls for negotiating a nevw unit price for each item that is found to deviate by more than 10% from the engineer's quantity. Why do you think this clause might be necessary? Assume that the project is completed and actual quantities are as follows: He would have made a higher bid that ensures his profit. This clause is necessary because it increases the total cost of the project for the owner Bid Item Uit Quantity Direct Cost Total bid (S) Unit bid (S) ExcavationCY Embankment CY Aggregate for road base Pavement 15,000 9,500 4,800 42,000 32,000 15,400 CY 2,800 35,500 124,900 12,500 20,000 157,400 SY Totals Job Overhead Marku Total Bid