Final answer:
The Estimate to Complete (ETC) is calculated based on the remaining budget in relation to past performance indices in project management, assuming future work will follow the same efficiency rates.
Step-by-step explanation:
When considering Estimate to Complete (ETC) in project management or cost accounting, the focus is on forecasting the cost needed to finish a project based on current performance. ETC is a fundamental component of the Earned Value Management (EVM) technique, which encompasses various other parameters such as Budget At Completion (BAC), Cost Performance Index (CPI), and Schedule Performance Index (SPI).
Specifically, the ETC can be calculated by taking the remaining budget (BAC minus the actual cost to date) and dividing it by the cost performance index (CPI), assuming that future work will continue at the same efficiency rate as past performance. However, the question appears to indicate that all future work will be completed at the budgeted rate, which implies one would need current project data to calculate the ETC accurately.