While preparing the next-week procurement cycle for the radiology equipment platform, the mobilization payment shows a $48,500 pay application amount. If 10% is withheld, what retainage withheld should be shown?
Correct Answer
D) $4,850
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: $6,062
$6,062 is above the supported result for mobilization payment; it likely adds scope or money the rule does not allow.
Option B: $43,650
$43,650 is above the supported result for mobilization payment; it likely adds scope or money the rule does not allow.
Option C: $485,000
$485,000 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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