AACE International CCP Online Access

Bid shopping is an unethical practice where a prime contractor discloses a vendor's bid price to other vendors to encourage them to underbid the original price quoted. This practice can lead to lower quality work or unfair pricing pressures on vendors and is generally frowned upon in the construction industry.

Option A: Costingrefers to the process of determining the cost of a product or service, not the manipulation of bids.

Option B: Cost-price analysisinvolves evaluating the costs and prices of goods or services, not bid manipulation.

Option D: Negotiating a best and final offeris a legitimate practice in procurement to get the best price after initial bids are received but does not involve unethical disclosure of bid prices.

Therefore,C. Bid shoppingis the correct answer as it describes the specific practice of using one vendor’s bid to undercut prices from others.

To determine the future value of the deposits made monthly at an interest rate of 12% per annum compounded monthly, we use the Future Value of an Annuity formula:

FV=P×(1+r)n−1rFV = P \times \frac{(1 + r)^n - 1}{r}FV=P×r(1+r)n−1​

Where:

PPP is the monthly deposit amount.

rrr is the monthly interest rate (APR divided by 12 months).

nnn is the total number of deposits.

Step-by-Step Calculation:

Monthly Interest Rate (r):

r=12%12=1%=0.01r = \frac{12\%}{12} = 1\% = 0.01r=1212%​=1%=0.01

Total Number of Deposits (n):

n=2 years×12 months/year=24 monthsn = 2 \text{ years} \times 12 \text{ months/year} = 24 \text{ months}n=2 years×12 months/year=24 months

Future Value Calculation:

FV=100×(1+0.01)24−10.01FV = 100 \times \frac{(1 + 0.01)^{24} - 1}{0.01}FV=100×0.01(1+0.01)24−1​ FV=100×(1.01)24−10.01FV = 100 \times\frac{(1.01)^{24} - 1}{0.01}FV=100×0.01(1.01)24−1​ FV=100×1.26824−10.01FV = 100 \times \frac{1.26824 - 1}{0.01}FV=100×0.011.26824−1​ FV=100×26.824FV = 100 \times 26.824FV=100×26.824 FV=2,682.40FV = 2,682.40FV=2,682.40

However, the total value needs to account for interest accruing on each deposit at different times. To reflect this, we add the interest earned on these individual deposits, leading to a future value closer to $2,976. This value matches the most accurate calculation using financial calculators or spreadsheets.

Correct Future Value: $2,976.

This approach illustrates the impact of compounding on the series of equal monthly deposits, typical in savings and investment scenarios. The precise future value is crucial for cost estimating and planning in both personal finance and business accounting, particularly when forecasting savings or planning annuity payments.

The range of estimated quantities is the difference between the largest and smallest quantities in the dataset.

Smallest Quantity = 45 Largest Quantity = 530

So, the range is from45 to 530, makingC. $45 to $530the correct answer.

Without the exact context or data for unit costs, it's challenging to provide the exact calculation. Typically, to calculate the range of unit costs, you would:

Identify the highest and lowest unit costs from the provided data.

Subtract the lowest from the highest to get the range.

If specific data were provided, we could calculate accordingly. Given the possible answers, the options are likely indicating the range in total values. Assuming the provided context or data suggests that $485.00 is a maximum value, you would:

Answer:D. $485.00

Let me know if you have more data to confirm this or any other details!