Contracts & ExecutionQuestion 166 of 1632
On a $500,000 contract, the schedule of values shows framing as 18% of the total. If framing is 50% complete, how much may the contractor bill for framing this period?
a.$25,000
b.$45,000
c.$90,000
d.$250,000
Explanation
Framing's total value is 18% x $500,000 = $90,000. At 50% complete the contractor may bill 50% x $90,000 = $45,000 for that line item this period.
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Reviewed by Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — verify)