Labor and Material Estimates
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You are budgeted to spend $2,000,000 in burdened labor and $800,000 in material. At the end of the first month of your project, the following information is made available:
Labor:
•ACWP = $ 80,000.
•BCWP = $ 90,000.
•BAC = $2,000,000.
Material:
•ACWP = $ 500,000.
•BCWP = $ 350,000.
•BAC = $ 800,000.
Determine the estimated cost at completion for both Labor and Material.
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Solution Summary
This solution illustrates how to compute the estimated cost at completion for both Labor and Material.
Solution Preview
Estimated cost at completion (EAC) = Budget at completion (BAC)/Cost performance index (CPI)
CPI = Actual cost of work performed (ACWP) ...
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