During the field-takeoff reconciliation at the emergency-generator enclosure, the mobilization payment shows a $64,750 pay application amount. If 7.5% is withheld, what retainage withheld should be shown?
Correct Answer
B) $4,856
Retainage equals the approved amount multiplied by the retainage percentage.
Why This Is the Correct Answer
Retainage equals the approved amount multiplied by the retainage percentage.
Why the Other Options Are Wrong
Option A: $6,475
$6,475 is above the supported result for mobilization payment; it likely adds scope or money the rule does not allow.
Option C: $59,894
$59,894 is above the supported result for mobilization payment; it likely adds scope or money the rule does not allow.
Option D: $485,625
$485,625 is above the supported result for mobilization payment; it likely adds scope or money the rule does not allow.
Memory Technique
Manager Checks contract math: approved scope is the ruler for mobilization.
Reference Hint
Open-book path: tab Principles and Practices of Commercial Construction, 10th Edition to Project cost controls; retainage calculation; verify the construction method, material quantity, equipment use, unit conversion, or field-control calculation.
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