If the project's current total earned value (EV) is $100,000 and the actualamount spent (AC) is $95,000, what is the cost variance of the project?A. The cost variance is 1.05B. The cost variance is 5,000C. The cost variance is 0.95D. The cost variance is -5,000Your company has temporarily assigned you to serve as a project managerat a company location outside your home country. While meeting with avendoryourfirst day on the job, you are presented with a gift. Thecorporate policy at the headquarters in your home country prohibitsemployees from accepting these types of gifts. However, as you are new tothis location, you believe- but are not sure-that the local policy, as well aslocal custom may differ. How should you respond?A. Provide a gift of similar value to the vendor at your next meeting.B. Accept the gift but do not tell anyone.C. Respectfully tell the vendor you are not sure of corporate policy,and will need to ask your management before you can accept gifts

The concept of cost variance indicates the difference between the actual cost incurred and budgeted…

Answered: If the project's current total earned…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 18M

See similar textbooks

Similar questions

please help, project management, I need part E and 2 please help, project management 1) Given the following information for a one-year project, answer the following questions. Recall that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion. PV=$22,000 EV=$20,000 AC=$25,000 BAC=$120,000 a) What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project? Show your calculations. b) How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget? Explain. c) Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned? Explain. d) Use the SPI to estimate how long it will take to finish this project. e) Sketch the earned value chart for this project. 2) Write a one-page summary explaining how is project cost management different when using an Agile approach?…
given variables are Earned Value (EV) = $13,000 Planned Value (PV) = $14,000 Actual Cost (AC) = $15,000 Compute the following: cost variance, schedule variance, cost performance index, schedule performance index , and explain if the project on or behind schedule, and if the project on or over the budget.
PROJECT MANAGEMENT
Please don't provide handwriting solution
. Given the following information of a three-year IT project of Muscat Solutions LLC. Calculate cost variance (CV), schedule variance (SV), cost performance index (CPI), and schedule performance index (SPI) for the given project. Justify the results. Planned Value, PV = $ 43000 Earned Value, EV = $ 27000 Actual Cost, AC = $ 65000
ACE CORP HAS THE FOLLOWING DL STANDARDS: DLHRS/UNIT 1.25 DL COST/HR $32 ACE USED 21,780 DLHRS TO PRODUCE 18,000 UNITS. ACTUAL DL COSTS = $713,295. WHAT IS THE AMOUNT OF THE DL PRICE VARIANCE? ___________ IS THE VARIANCE FAVORABLE OR UNFAVORABLE? ___________ REFER TO QUESTION 1. WHAT IS THE AMOUNT OF THE DL EFFICIENCY VARIANCE? _________ IS THE VARIANCE FAVORABLE OR UNFAVORABLE__________
A contractor has agreed to build 10 dog houses in 20 days at a price of $800 per unit. 10 days later, the contractor has finished 6 dog houses with an actual total cost of $5,200. What is the cost variance CV (CV = BCWP - ACWP)? $800 $400 $-1,200 $600
answer in text form please (without image)
What is the DL Time Variance, given the following info: Actual Costs = 6,000 hours at $12.00 Standard Costs = 7,500 hours at $11.60 Group of answer choices $2,400.00 favorable $3,000.00 favorable $15,000.00 unfavorable $17,400.00 favorable
For a project, ACWP (CAC) = R18,000, BCWP (CBC) = R15,000, BCAC (BAC or TBC) = R24,000, the project is 30% completed. What is the Cost Variance? OR-13,000 OR-10,000 O R8,000 OR-8,000 A
Management should focus its sales and production efforts on the product or products that will provide a. the lowest product costs b. the lowest direct labor hours c. the highest sales revenue d. the maximum contribution margin The following data relate to direct labor costs for the current period: Standard costs 7,500 hours at $11.70 Actual costs 6,000 hours at $12.00 What is the direct labor time variance? a. $18,000 favorable b. $17,550 unfavorable c. $17,550 favorable d. $18,000 unfavorable Which of the following is not a factory overhead allocation method? a. factory costing b. multiple departmental rates c. activity-based costing d. single plantwide rate
H2.

SEE MORE QUESTIONS

Recommended textbooks for you

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS