Question

The estimate at completion for your project is 179,000 and the estimate to complete the project is 88,500. Which statement is most accurate?

1) The cost variance is 90,500
2) The actual costs are 90,500
3) The schedule variance is 90,500
4) The variance as completion is 90,500

Answer 1

The most accurate statement is that the actual costs are $90,500, calculated by subtracting the estimate to complete (ETC) from the estimate at completion (EAC).

Step-by-step explanation:

The question provided involves concepts typically discussed within business management, specifically concerning project management and cost control. Since the estimate at completion (EAC) is $179,000 and the estimate to complete (ETC) is $88,500, we can determine that the actual costs to date are the difference between these two values. Therefore, the actual costs to date would be the EAC minus the ETC, which is $179,000 - $88,500 = $90,500. Consequently, the second statement that the actual costs are $90,500 is the most accurate.