While preparing the look-ahead planning meeting for the warehouse battery room, the subcontractor progress billing shows a $146,000 monthly earned value. If 5% is withheld, what retainage deduction should be shown?
Correct Answer
C) $7,300
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: $10,950
$10,950 is above the supported result for subcontractor progress billing; it likely adds an unsupported amount or compares the wrong financial base.
Option B: $138,700
$138,700 is above the supported result for subcontractor progress billing; it likely adds an unsupported amount or compares the wrong financial base.
Option D: $730,000
$730,000 is above the supported result for subcontractor progress billing; it likely adds an unsupported amount or compares the wrong financial base.
Memory Technique
Manager Checks money test: bucket before math for subcontractor.
Reference Hint
Open-book path: tab Principles and Practices of Commercial Construction, 10th Edition to Project cost controls; subcontract retainage; verify the construction method, material quantity, equipment use, unit conversion, or field-control calculation.
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