Question

The project is estimated to have a 12,500 variance at completion. The project budget is 75,000 and the estimate to complete the remaining work is 15,750. What are the actual costs of the project to-date?

1) Unable to determine
2) 59,250
3) 62,500
4) 46,750

Answer 1

The actual costs of the project to-date can be found by subtracting the estimate to complete the remaining work from the project budget. In this case, the actual costs are $59,250.

Step-by-step explanation:

The actual costs of the project to-date can be found by subtracting the estimate to complete the remaining work from the project budget. In this case, the project budget is $75,000 and the estimate to complete the remaining work is $15,750. Therefore, the actual costs of the project to-date are $59,250.