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In 2022, Leo construction will work on a residential project that lasts 4 months. The...

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Accounting

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In 2022, Leo construction will work on a residential project that lasts 4 months. The direct costs of the residential project are shown in the following bar chart. Question 1 5 pts Assuming $5,000 indirect cost per month, and 14.7% markup. If the retainage is 8% throughout the project, finance charge is 1% per month, and payments will be billed at the end of the month and will be received one month later. How much is the last payment the contractor is expected to receive? \begin{tabular}{|l|l|l|l|l|l|l|} \hline End of Month & 0 & 1 & 2 & 3 & 4 & 5 \\ \hline \begin{tabular}{l} Monthly Cost \\ (Direct \& Indirect Cost) \end{tabular} & & & & & & \\ \hline Monthly Billing & & & & & & \\ \hline Monthly Income & & & & & & \\ \hline Retainage & & & & & & \\ \hline \begin{tabular}{l} Overdraft \\ (before interest) \end{tabular} & & & & & & \\ \hline Interest (1\%) & & & & & & \\ \hline \begin{tabular}{l} Overdraft \\ (deduct interest) \end{tabular} & & & & & & \\ \hline \begin{tabular}{l} Overdraft \\ (add income) \end{tabular} & & & & & & \\ \hline \end{tabular}

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