A = (B X C/100) X (D E) – Where: A = Dollar value adjustment for mix placed during the payment estimate period. B = Tons of asphalt mixture placed during the payment estimate period. C = Percent of virgin PG asphalt binder as listed in the job mix formula. D = The Monthly Asphalt Index for the month prior to the month the asphalt mix was placed. E = The Asphalt Base Index = the Monthly Asphalt Index for the month the project was let. Link to the Monthly Asphalt Index prices posted on the MoDOT web page: HOME >> business >> contractor resources >> The following Monthly Asphalt Cement Index Prices are provided for the examples: June $313.75 ‘16 July $313.75 ‘16 Aug $300.00 ‘16 Sept $291.25 ‘16 Oct $287.50 ‘16 Nov $280.00 ‘16 Dec $272.50 ‘16 $276.25 Jan ’17 $291.25 Feb ‘17 Mar $317.50 ‘17 April $328.75 ‘17 May $330.00 ‘17 Example #1 (Hot mix asphalt paid per ton) Parameters: Contract letting date: August of 2016 2,000 tons of SP125 mix was placed each day for 9 days from March 29 to April 6, 2017. Job mix: 6.1% virgin AC. RAP is used (which is irrelevant to the calculation). All mix was placed prior to the contract completion date. March 29 April 1 (4 days @ 2,000 Tons/day): – B = 8,000 C = 6.1% D = 291.25 (AC index for the month prior to the month placed) E = 300.00 (AC index the month of the letting)
A = (B X C/100) X (D – E) Where: A = Dollar value adjustment for mix placed during the payment estimate period. B = Tons of asphalt mixture placed during the payment estimate period. C = Percent of virgin PG asphalt binder as listed in the job mix formula. D = The Monthly Asphalt Index for the month prior to the month the asphalt mix was placed. E = The Asphalt Base Index = the Monthly Asphalt Index for the month the project was let. Link to the Monthly Asphalt Index prices posted on the MoDOT web page: HOME >> business >> contractor resources >> The following Monthly Asphalt Cement Index Prices are provided for the examples: June ‘16 $313.75 July ‘16 $313.75 Aug ‘16 $300.00 Sept ‘16 $291.25 Oct ‘16 $287.50 Nov ‘16 $280.00 Dec ‘16 $272.50 Jan ’17 $276.25 Feb ‘17 $291.25 Mar ‘17 $317.50 April ‘17 $328.75 May ‘17 $330.00 Example #1 (Hot mix asphalt paid per ton) Parameters: Contract letting date: August of 2016 2,000 tons of SP125 mix was placed each day for 9 days from March 29 to April 6, 2017. Job mix: 6.1% virgin AC. RAP is used (which is irrelevant to the calculation). All mix was placed prior to the contract completion date. March 29 – April 1 (4 days @ 2,000 Tons/day): B = 8,000 C = 6.1% D = 291.25 (AC index for the month prior to the month placed) E = 300.00 (AC index the month of the letting)