Pl Below is a table showing the total budgeted cost (TBC) vs total actualcosts (TAC) in thousands over the 12 months period so far.Month1234 567TBC 100 150 50 60 100 125 105 100 1208 9 10 11 12115 110 100TAC 100 160 45 55 90 125 105 100 121 112 110 100Using the table above, determine whether there is a cumulative costoverrun or underrun by the following months:i.Month 2Month 6ii.NOTE: In each case; state whether it's overrun/underrun and show thevariance amount.

Cost Overrun happens when a project's actual cost determined is more than the estimated costs of the…

Below is a table showing the total budgeted cost (TBC) vs total actual costs (TAC) in thousands over the 12 months period so far. Month 1 2 3 4 5 6 7 8 9 10 11 12 TBC 100 150 50 60 100 125 105 100 120 115 110 100 TAC 100 160 45 55 55 90 125 105 100 121 112 110 100 Using the table above, determine whether there is a cumulative cost overrun or underrun by the following months: i. Month 2 Month 6 ii. NOTE: In each case; state whether it's overrun/underrun and show the variance amount.

Below is a table showing the total budgeted cost (TBC) vs total actual costs (TAC) in thousands over the 12 months period so far. Month 1 2 3 4 5 6 7 8 9 10 11 12 TBC 100 150 50 60 100 125 105 100 120 115 110 100 TAC 100 160 45 55 55 90 125 105 100 121 112 110 100 Using the table above, determine whether there is a cumulative cost overrun or underrun by the following months: i. Month 2 Month 6 ii. NOTE: In each case; state whether it's overrun/underrun and show the variance amount.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Below is a table showing the total budgeted cost (TBC) vs total actual
costs (TAC) in thousands over the 12 months period so far.
Month
1
2
3
4 5
6
7
TBC 100 150 50 60 100 125 105 100 120
8 9 10 11 12
115 110 100
TAC 100 160 45 55 90 125 105 100 121 112 110 100
Using the table above, determine whether there is a cumulative cost
overrun or underrun by the following months:
i.
Month 2
Month 6
ii.
NOTE: In each case; state whether it's overrun/underrun and show the
variance amount.

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