2,236 774 4 3,162 1,545 6 3,873 2,308 8 4,472 3,061 2 5,000 3,799 10 5,477 4,520 11 5,916 5,221 4 12 6,325 5,899 5 13 6,708 6,553 6 13 7,071 7,182 7 14 7,416 7,783 15 7,746 8,356 9 15 8,062 8,900 10 8,367 9,416 12 12 16 17
2,236 774 4 3,162 1,545 6 3,873 2,308 8 4,472 3,061 2 5,000 3,799 10 5,477 4,520 11 5,916 5,221 4 12 6,325 5,899 5 13 6,708 6,553 6 13 7,071 7,182 7 14 7,416 7,783 15 7,746 8,356 9 15 8,062 8,900 10 8,367 9,416 12 12 16 17
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Sagar
Transcribed Image Text:Fulton Construction is a general contractor for large construction projects. The budget costs and the time to reach a particular
percentage of completion (in months) follows. Also shown are the actual results (cost and months) up to the latest report, which was at
the end of month 19.
Percentage
Cost ($008)
Months to Reach
Complete
Budget
Actual
Budget
Actual
0%
0
8
0
5%
2,236
774
4
10%
3,162
1,545
1
6
15%
3,873
2,308
1
8
20%
4,472
3,061
2
9
25%
5,000
3,799
3
10
30%
5,477
4,520
11
35%
5,916
5,221
4
12
40%
6,325
5,899
5
13
45%
6,708
6,553
6
13
50%
7,071
7,182
7
14
55%
7,416
7,783
8
15
60%
7,746
8,356
9
15
65%
8,062
8,900
10
16
70%
8,367
9,416
12
17
75%
8,660
9,902
13
17
80%
8,944
10,361
14
18
85%
9,220
10, 791
16
18
90%
9,487
11,194
17
19
95%
9,747
19
100%
10,000
20
Required:
a. At this time, what is the current cost over- (under-) run on the project?
Note: Enter your answer in dollars and not in thousands of dollars.
b. At this time, by how far ahead or behind schedule is the project in terms of percentage of completion?
a. Current cost
b. Percentage of completion
96
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