a.When a rise and fall clause is included in a contract, it is necessary to access external data to correctly apply the terms of that clause into an appropriate schedule for a given contract.

i.Apply the data shown below to calculate the rise and fall in labour and material costs and use them to find the adjusted progress payment claims.

Historical Data

Labour % of total costs, from historical records = 45%

Materials % of total costs from historical records = 55%

ABS CPI information: (example only)

June Quarter 2017 (Apr-June)Housing Sector+ 0.8%

September Quarter 2017 (July-Sept) Housing Sector+ 1.9%

December Quarter 2017 (Oct-Dec)Housing Sector- 0.3%

Claim No

Month

Claim Value

CPI %

Labour Adjustment 45%

Material Adjustment 55 %

Progress Claim

1

June 2017

$165,665.00

2

July 2017

$220,880.00

3

August 2017

$386,542.00

4

September 2017

$205,850.00

+1.9%

$177,248.83

$216,637.47

$393,886.30

5

October 2017

$773,085.00

-.03%

$92,604.71

$113,189.54

$205,788.25