VA Contractors: VA Advanced (Class A) Actual
Questions & Verified Answers.
Terms in this set (24)
A lump sum contract on a More than $50,000
project has a total contract
price of $160,000. Retainage
has been held back at 10%.
The contractor has received
progress payments for 75%
of the project. The contractor
submits a request for final
payment for the new
completed project. The final
payment amount should be
for...
, What is the total value of Between $12,000 and $16,000
current assets for an accrual
basis company that has the
following? Checking account
cash balance is $4,800;
materials inventory for work-
in-progress is $4,200; a pick-
up truck that cost $12,460-
paid for with $2,460 in cash
and a note for $10,000- and
is used 100% in the business;
accounts receivable is
$5,700; suppliers' accounts
payable is $6,300; other
accounts payable is $2,200;
and quarterly income tax
payment due is $1,180...
Less than $12,000
What is the total project
overhead for a project that
lasts 3 months and has the
following costs? Labor is
$4,000; materials are $9,500;
equipment rentals are
$1,200; superintendent's
annual salary is $36,000;
office rent is $800 per
month; and office utilities
are $375 per month.
Questions & Verified Answers.
Terms in this set (24)
A lump sum contract on a More than $50,000
project has a total contract
price of $160,000. Retainage
has been held back at 10%.
The contractor has received
progress payments for 75%
of the project. The contractor
submits a request for final
payment for the new
completed project. The final
payment amount should be
for...
, What is the total value of Between $12,000 and $16,000
current assets for an accrual
basis company that has the
following? Checking account
cash balance is $4,800;
materials inventory for work-
in-progress is $4,200; a pick-
up truck that cost $12,460-
paid for with $2,460 in cash
and a note for $10,000- and
is used 100% in the business;
accounts receivable is
$5,700; suppliers' accounts
payable is $6,300; other
accounts payable is $2,200;
and quarterly income tax
payment due is $1,180...
Less than $12,000
What is the total project
overhead for a project that
lasts 3 months and has the
following costs? Labor is
$4,000; materials are $9,500;
equipment rentals are
$1,200; superintendent's
annual salary is $36,000;
office rent is $800 per
month; and office utilities
are $375 per month.
