muu Your company has been awarded the contract for the new John Tocco Foundation Addition to the Engineering Building at LTU and you have been assigned as the project executive. The contract has a value of $22,000,000. The estimate and anticipated schedule durations are as follows: Mobilization (Front-loaded OH&P) General Conditions Excavation and Utilities Sito work CIP Concrete Foundations CIP Concrete Flatwork Masonry Structural Steel Roofing Glass and Glazing Interior Finishes Fireproofing Plumbing HVAC Electrical Contractor overhead and profit Bond (payable when invoiced) Start Date 100.000 May 2015 1.100.000 May 2015 1.800.000 May 2015 500 000 Mar 2016 1.400.000 Jun 2015 900,000 Dec, 2015 1,900,000 Nov 2015 2.900.000 Sep 2015 950,000 Dec 2015 1,200,000 Dec, 2015 2.200.000 Feb 2015 375,000 Feb, 2016 850,000 Jan 2016 1.700 000 Jan 2018 3,000,000 Jan 2018 1,100.000 25,000 22,000,000 Budget (3) End Date May 2015 Apr 2016 July 2015 Apr 2016 Oct, 2015 Mar 2016 Feb, 2016 Dec 2015 Feb 2015 Feb 2016 Apr 2016 Mar 2016 Apr 2016 Apr 2016 Apr 2016 Your company will self-perform the concrete foundations and flatwork and the masonry work. For both disciplines your profit margin is 10% and your total labor cost is 50% of the cost of work. Assume payroll taxes are 10% of labor cost and are paid the month incurred. Union fringes and insurance cost are 30% of your total labor cost and are paid the following month. All material and equipment cost are paid the following month. Your total project management and supervision staff cost is 75% of your general conditions cost. Employee benefits and insurance are 20% of labor cost. Your general conditions cost are incurred equally each over the duration of the project Non-labor general condition costs are paid the following month. All of the remaining work has been subcontracted. All subcontracts contain pay if paid language. Pay applications are due to the University at the end of the month and are paid the first of the second following month, ie. the payment for the May invoice would be made July 1 All invoices are subject to 10% retention and payment of retention will be made 90 days after completion of the project. There will be no early reduction in retainer. Overhead and profit is to be billed on a pro-rata basis based on the work in place each month Prepare a worksheet showing the monthly and cumulative cash flow for the project. To check your results, compute the total expected overhead and profit for the project