In a unit price contract for excavation at $12 per cubic yard, the estimated quantity was 5,000 cubic yards, but actual quantity was 6,200 cubic yards. What is the total payment for excavation?
Correct Answer
A) $74,400
In unit price contracts, payment is based on actual quantities: 6,200 cubic yards × $12/cubic yard = $74,400.
Why This Is the Correct Answer
In unit price contracts, payment is based on actual quantities: 6,200 cubic yards × $12/cubic yard = $74,400.
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