During the preconstruction estimate lock at the manufacturing clean-room chase, the change-order payment shows a $89,750 approved change order. If 10% is withheld, what retainage holdback should be shown?
Correct Answer
D) $8,975
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: $11,219
$11,219 is above the supported result for change-order payment; it likely adds scope or money the rule does not allow.
Option B: $80,775
$80,775 is above the supported result for change-order payment; it likely adds scope or money the rule does not allow.
Option C: $897,500
$897,500 is above the supported result for change-order payment; it likely adds scope or money the rule does not allow.
Memory Technique
Retainage before dollars; approved before balance in Manager Checks.
Reference Hint
Open-book path: tab Principles and Practices of Commercial Construction, 10th Edition to Project cost controls; change-order retainage; verify the construction method, material quantity, equipment use, unit conversion, or field-control calculation.
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