Spot Construction builds roads, bridges, and other infrastructure. The following is the budget for a road project along with the actual results (in thousands of dollars) for the last fifteen months. Budget %Complete 0.0% Actual Cost %Complete 0.0% Month Cost 2$ 1 $ $ 1,020 $ 1,530 $ 2,040 $ 2,550 $ 3,060 $ 3,570 $ 4,080 $ 4,590 $ 5,100 $ 5,610 $ 6,120 $ 6,630 $ 7,140 $ 7,650 $ 8,160 $ 8,670 $ 9,180 $ 9,690 $10,200 $10,710 $11,220 $11,730 $12,240 $ 700 $1,160 $1,820 $2,270 $2,810 $3,190 $3,870 $4,200 $4,710 $5,400 $5,920 $6,300 $7,190 $7,600 $8,120 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 510 5.5% 11.2% 13.4% 21.6% 27.5% 34.0% 36.5% 45.0% 48.8% 53.4% 56.7% 62.3% 70.0% 74.3% 80.0% 4 6. 7 8. 9. 40.0% 45.0% 50.0% 55.0% 60.0% 63.3% 10 11 12 13 66.7% 70.0% 73.3% 76.7% 80.0% 83.3% 86.7% 90.0% 93.3% 96.7% 100.0% 14 15 16 17 18 19 20 21 22 23 24 Required: a. At this time, what is the current cost over (under) run on the project? (Enter your answer in dollars and not in thousands of dollars.) b. At this time, by how far ahead or behind schedule is the project in terms of percentage of completion?
Spot Construction builds roads, bridges, and other infrastructure. The following is the budget for a road project along with the actual results (in thousands of dollars) for the last fifteen months. Budget %Complete 0.0% Actual Cost %Complete 0.0% Month Cost 2$ 1 $ $ 1,020 $ 1,530 $ 2,040 $ 2,550 $ 3,060 $ 3,570 $ 4,080 $ 4,590 $ 5,100 $ 5,610 $ 6,120 $ 6,630 $ 7,140 $ 7,650 $ 8,160 $ 8,670 $ 9,180 $ 9,690 $10,200 $10,710 $11,220 $11,730 $12,240 $ 700 $1,160 $1,820 $2,270 $2,810 $3,190 $3,870 $4,200 $4,710 $5,400 $5,920 $6,300 $7,190 $7,600 $8,120 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 510 5.5% 11.2% 13.4% 21.6% 27.5% 34.0% 36.5% 45.0% 48.8% 53.4% 56.7% 62.3% 70.0% 74.3% 80.0% 4 6. 7 8. 9. 40.0% 45.0% 50.0% 55.0% 60.0% 63.3% 10 11 12 13 66.7% 70.0% 73.3% 76.7% 80.0% 83.3% 86.7% 90.0% 93.3% 96.7% 100.0% 14 15 16 17 18 19 20 21 22 23 24 Required: a. At this time, what is the current cost over (under) run on the project? (Enter your answer in dollars and not in thousands of dollars.) b. At this time, by how far ahead or behind schedule is the project in terms of percentage of completion?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hello question is attached, thanks.
Transcribed Image Text:Spot Construction builds roads, bridges, and other infrastructure. The following is the budget for a road project along with the actual
results (in thousands of dollars) for the last fifteen months.
Budget
%Complete
0.0%
Actual
Cost
%Complete
0.0%
Month
Cost
2$
1
$
$ 1,020
$ 1,530
$ 2,040
$ 2,550
$ 3,060
$ 3,570
$ 4,080
$ 4,590
$ 5,100
$ 5,610
$ 6,120
$ 6,630
$ 7,140
$ 7,650
$ 8,160
$ 8,670
$ 9,180
$ 9,690
$10,200
$10,710
$11,220
$11,730
$12,240
$ 700
$1,160
$1,820
$2,270
$2,810
$3,190
$3,870
$4,200
$4,710
$5,400
$5,920
$6,300
$7,190
$7,600
$8,120
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
510
5.5%
11.2%
13.4%
21.6%
27.5%
34.0%
36.5%
45.0%
48.8%
53.4%
56.7%
62.3%
70.0%
74.3%
80.0%
4
6.
7
8.
9.
40.0%
45.0%
50.0%
55.0%
60.0%
63.3%
10
11
12
13
66.7%
70.0%
73.3%
76.7%
80.0%
83.3%
86.7%
90.0%
93.3%
96.7%
100.0%
14
15
16
17
18
19
20
21
22
23
24
Required:
a. At this time, what is the current cost over (under) run on the project? (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?
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