Use the Earned Value Table for Project Makeready to Calculate

question 22

Multiple Choice

Use the earned value table for Project Makeready to calculate the estimated cost to completion. $$\begin{array} { | l | l | l | l | l | l | l | l | l | l | } \hline \text { Activity } & 7 & 14 & 21 & 28 & 35 & 42 & 49 & \text { plan } & 8 \text { Complete } \\\hline \text { Irstall fixtures } & 325 & 250 & & & & & & 575 & 100 \% \\\hline \text { Refinish floors } & & 550 & 85 & & & & & 635 & 100 \% \\\hline \text { Replace doors } & & & 350 & 275 & & & & 625 & 100 \% \\\hline \text { Complete tiling } & & & & 1,200&565 & & & 1,765 & 80 \% \\\hline \text { Irstall back door } & & & & & 875 & 225 & & 1,100&70 \% \\\hline \text { Landscaping } & & & & & & 200 & 350 & 550 & 25 \% \\\hline \text { Monthly Plarn } & 325 & 800 & 435 & 1,475 & 1,440&425 & 350 & 5,250 & \\\hline \text { Monthly Act } & 550 & 550 & 550 & 1,100 &1,650 & 550 & 1,100 & & \\\hline\end{array}$$

• A)$4,285
• B)$5,250
• C)$6,050
• D)$7,645

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Definitions:

Reservation Price

The maximum price a consumer is willing to pay for a good or service, beyond which they will choose not to purchase it.

Cost Function

A mathematical formula or equation that describes how production costs change with alterations in the volume of output.

U-shaped Cost Curve

A graphical representation showing that as output increases, average costs initially decrease, reach a minimum, and then increase.

Ambrosia

Often referred to in mythology as the food or drink of the gods, typically signifying something with an exquisite taste or smell.