Your company has been hired to act as a construction manager for the construction of a bookstore for a fixed fee of $32,000. When the design was 90% complete, you prepared a budget for the project, which is shown in Figure 4-12. Code 04100 05900 07200 07500 08400 09100 09200 09300 09400 09800 12300 21100 22100 23100 26100 31100 32100 33100 33200 Contract Description Amount Code 01100 01700 01900 03300 03400 03450 03500 03600 03900 04100 05100 05300 05900 06110 06120 07200 07500 07700 08110 08400 08700 09100 09200 09300 09400 09800 10400 10800 12300 21100 22100 23100 26100 31100 32100 32200 32300 32500 33100 33200 Description Budget Masonry Erection Insulation Roofing Store Fronts Drywall Ceramic Tile Acoustical Treatment Carpet and Vinyl Paint Cabinetry and Countertops Fire Sprinklers Plumbing HVAC Electrical Grading and Excavation Asphalt Sanitary Sewer Water Line 42,136 8,200 1,802 8,875 9,100 6,898 1,999 6,995 5,354 8,000 9,865 7,000 22,115 23,850 17,825 6,150 17,569 1,359 1,125 Supervision Temporary Utilities Cleanup Footing and FoundationLabor Footing and FoundationConcrete Concrete Pump Slab/FloorLabor Slab/FloorConcrete Rebar Masonry Structural Steel Joist and Deck Erection Rough Carpentry Lumber Insulation Roofing Roof Specialties Metal Doors and Frames Store Fronts Hardware Drywall Ceramic Tile Acoustical Treatment Carpet and Vinyl Paint Signage Toilet & Bath Accessories Cabinetry and Countertops Fire Sprinklers Plumbing HVAC Electrical Grading and Excavation Asphalt Site ConcreteLabor Site ConcreteConcrete Landscaping Sanitary Sewer Water Line Profit and Overhead 36,000 6,700 4,600 3,400 3,500 1,700 2,100 6,800 1,100 44,000 11,000 15,500 8,600 500 900 1,700 9,000 1,000 2,900 9,500 1,900 6,700 2,100 7,200 5,500 8,200 500 1,000 10,000 6,700 24,000 23,000 19,000 6,300 17,000 1,000 1,000 1,000 1,000 1,000 32,000 FIGURE 4-13 Subcontracts for Problem 10 During the buyout, the subcontracts shown in Figure 4-13 were signed and the purchase orders shown in Figure 4-14 were issued. No additional costs are expected for the contracts in Figure 4-13 and the purchase orders in Figure 4-14. A purchase order has been issued for con- crete for $115 per cubic yard. This price is 4% below the costs used in the budget. You have a meeting with the projects owner to discuss the financial status of the project. Using the commit- ted cost worksheet in Figure 4-1 of the textbook, update the estimated cost at completion and determine if the project is over or under budget.