What is the below values of the followings in the below table: 1- Overdraft end

Question

What is the below values of the followings in the below table:

1- Overdraft end of the month

2- Interest on the overdraft balance (financially)

3- Interest on the overdraft balance

Overdraft calculation 1 2 3 4 5 Indirect $             5,000 Direct cost (monthly) $           25,000 $           65,000 $           75,000 $           15,000 Markup 5% Indirect cost (monthly) $             5,000 $             5,000 $             5,000 $             5,000 Retainage 10% Subtotal $           30,000 $           70,000 $           80,000 $           20,000 Actual payment (Retainage less) 90% Markup (monthly) $             1,500 $             3,500 $             4,000 $             1,000 Interest rate 1% Total Billed $           31,500 $           73,500 $           84,000 $           21,000 Retainage withheld (monthly) $             3,150 $             7,350 $                  -   $                  -   Payment $           28,350 $           66,150 $           84,000 $           21,000 Progress Payment Received (monthly) $                  -   $        28,350.0 $           66,150 $           84,000 $           31,500 Progress payment Received (cummulative) $                  -   $        28,350.0 $           94,500 $         178,500 $         210,000 Total base cost to date (cummulative) $           30,000 $         100,000 $         180,000 $         200,000 $         200,000 Total amount billed to date (cummulative) $           31,500 $         105,000 $         189,000 $         210,000 Overdraft end of month Interest on overdraft balance (1% interest) Total amount financed (cumulative)

Explanation / Answer

Overdraft calculation 1 2 3 4 5 Indirect               5,000 Direct cost (monthly)              25,000              65,000              75,000              15,000 Markup 5% Indirect cost (monthly)                5,000                5,000                5,000                5,000 Retainage 10% Subtotal              30,000              70,000              80,000              20,000                     -   Actual payment (Retainage less) 90% Markup (monthly)                1,500                3,500                4,000                1,000 Interest rate 1% Total Billed              31,500              73,500              84,000              21,000                     -   Retainage withheld (monthly)                3,150                7,350                     -                        -    Payment              28,350              66,150              84,000              21,000 Progress Payment Received (monthly)                     -                28,350              66,150              84,000              31,500 Progress payment Received (cummulative)                     -                28,350              94,500            1,78,500           2,10,000 Total base cost to date (cummulative)              30,000            1,00,000            1,80,000            2,00,000           2,10,000 Total amount billed to date (cummulative)              31,500            1,05,000            1,89,000            2,10,000 Overdraft end of month             -30,000             -71,950             -86,520             -23,385                7,881 Interest on overdraft balance (1% interest)                  -300                  -720                  -865                  -234 Total amount financed (cumulative)                  -30,300                  -72,670                  -87,385                  -23,619                     7,881

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