CURRENT PROJECT BUDGET : R273 000 Task Completion date scheduled Budgeted Amount (BCWP) Cash Flow Actual Cost (acwp) Cost Variance(CVAR/CV) Task a 20/01/2021 60000 ??? 66000 -6000 Task b 15/02/2021 ??? 48000 48000 -3000 Task c 24/03/3021 78000 ??? 78000 ??? Task d 31/03/2021 90000 84000 ??? 6000 TOTAL 31/03/2021 ??? ??? ??? ??? Study the following project-spending plan and calculate the following (indicate the actual calculations in full) 1. Cash Flow for Task b
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
CURRENT PROJECT BUDGET : R273 000
| Task | Completion date scheduled | Budgeted Amount (BCWP) | Actual Cost (acwp) | Cost Variance(CVAR/CV) | |
| Task a | 20/01/2021 | 60000 | ??? | 66000 | -6000 |
| Task b | 15/02/2021 | ??? | 48000 | 48000 | -3000 |
| Task c | 24/03/3021 | 78000 | ??? | 78000 | ??? |
| Task d | 31/03/2021 | 90000 | 84000 | ??? | 6000 |
| TOTAL | 31/03/2021 | ??? | ??? | ??? | ??? |
Study the following project-spending plan and calculate the following (indicate the actual calculations in full)
1. Cash Flow for Task b
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