Question

As a contractor's quantity surveyor for a bungalow project, calculate the payment duetothecontractorbypreparingInterimCertificateno.4,giventhefollowinginformation:

• Accumulatedpayment paidtocontractor------------ $4,800,000
• Variationwork (completed)------------ $7,800(Nettaddition)
• Limitofretention----------- 5%ofthe contractsum
• Retentiononworkdone----------- 10%
• Retentiononmaterialdeliveredtosite----------- 20%
• Rentalofexcavatorforexcavationworks----------- $20,000
• T20steelreinforcement barsdeliveredtosite------------ $55,000
• Cementbagsdeliveredto site------------- $2,000
• Cakesforsitemeetings-------------- $2,000
• Paintorderedbutnotyet delivered------------- $15,000
• Contractsum--------------- $50,000,000
• Contractworkcompleted to-date:-------$6,100,000

Kindly show yourdetailedworkingsandpresent youranswerintheprescribed format

For me to understand and analyze. Thank you