Determine the financial requirement for the following cost expenditure for a small remodeling job. Assumptions: The markup for this project is 10%. Finance charge is 1% per month. Retainage is 5% throughout project. Payments are billed at the end of each month, and are received one month later.

Month Monthly Costs (Includes direct costs and indirect costs) 2 69,000 $21,800 Month 4 Direct Cost Indirect Cost Subtotal Markup 10% Total Billed Retainage 5% Payment Received Return of Retainage Cost to Date Billed to Date Paid to Date Overdraft @ end of month Interest on overdraft balance Total Amount financed