Construction Accounting And Financial Management (4th Edition)
4th Edition
ISBN: 9780135232873
Author: Steven J. Peterson MBA PE
Publisher: PEARSON
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Textbook Question
Chapter 7, Problem 17P
A project consists of six tasks. Task A is scheduled to begin at the start of Week 1 and finish at the end of Week 4. Task B is scheduled to begin at the start of Week 1 and finish at the end of Week 2. Task C is scheduled to begin at the start of Week 3 and end at the end of Week 4. Task D is scheduled to begin at the start of Week 1 and end at the end of Week 1. Task E is scheduled to begin at the start of Week 2 and end at the end of Week 4. Task F is scheduled to begin at the start of Week 4 and end at the end of Week 4. The budgeted cost for Task A is $10,000, for Task B is $2,000, for Task C is $3,000, for Task D is $1,000, for Task E is $6,000, and for Task F is $4,000. At the end of the third week, Task A is 80% complete, Task B is 100% complete, Task C is 40% complete, Task D is 100% complete, Task E is 55% complete, and Task F has not started. What is the SPI for the project at the end of the third week?
The ACWP at the end of the third week for the project in Problem 13 is $16,500. Determine the CPI for the project.
Determine the total estimated cost at completion and estimated cost to complete for the project in Problem 15, assuming the CPI remains the same through the remainder of the job.
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Chapter 7 Solutions
Construction Accounting And Financial Management (4th Edition)
Ch. 7 - What are the key steps in the monitoring and...Ch. 7 - What does it indicate when a superintendent has to...Ch. 7 - What is the best way to control labor costs? What...Ch. 7 - Why are equipment costs for company-owned...Ch. 7 - What is an internai change order and how is it...Ch. 7 - Why is it important to have a realistic budget for...Ch. 7 - What are some of the problems with using the CPI?Ch. 7 - Prob. 8DQCh. 7 - During the design phase, what are the steps for...Ch. 7 - Determine the estimated cost of the work performed...
Ch. 7 - Determine the estimated cost of the work performed...Ch. 7 - A project consists of three tasks. Task A is...Ch. 7 - A project consists of six tasks. Task A is...Ch. 7 - The ACWP at the end of the second week for the...Ch. 7 - A project consists of six tasks. Task A is...Ch. 7 - Determine the total estimated cost at completion...Ch. 7 - A project consists of six tasks. Task A is...Ch. 7 - Prob. 18P
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- List the five steps taken in preparing a work sheet.arrow_forwardA company produces two products, A and B, that go through a three-step sequence of fabrication, assembly, and packaging. Processing requirements for the departments (hours per unit) are: Product A B Day A B Department capacities are all 7 hours per day. The following production schedule is for the next three days: Mon Tues 1 1 2 1 Fabrication 1.0 2.0 Job Start Day Mon Tue Wed Wed 1 5 a. Develop, for each department and day, the capacity requirements for each product and the total load for each day. Ignore changeover time between A and B. Evaluate the projected loads for each day. (Round the final answers to 1 decimal place.) Product A B Assembly 2.0 2.0 A B A B Packaging 2.0 1.0 Fabrication Labor Assembly Labor Packaging Labor ]]]]] IIIIII [arrow_forward(a) Develop a physical flow schedule for the mixing department for the month of May. (b) Calculate the equivalent units of production for materials and conversion of the mixing department for the month of May. (c) Calculate the unit cost for materials and conversion of the mixing department for the month of May. (d) Calculate the costs of units transferred out and the cost of EWIP for the mixing department for the month of May. (e) Develop a cost reconciliation for the mixing department for the month of May.arrow_forward
- The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $9,000 of direct materials. Attachment a. Determine the number of units transferred to the next department.b. Determine the costs per equivalent unit of direct materials and conversion.c. Determine the cost of units started and completed in November.arrow_forwardThe first production department of Stone Incorporated reports the following for April. Direct Materials Percent Complete 75% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 73,000 387,000 365,000 95,000 85% Conversion Percent Complete 25% 35%arrow_forwardPROBLEM 4. An X product is composed of A, B, C items. The aggregate plan for February and someof the information are provided as follows. Prepare the master production schedule.arrow_forward
- Suppose that manufacturing is performed in sequential production departments. Prepare a journalentry to show a transfer of partially completed units from the first department to the second department. Assume the amount of costs transferred is $50,000.arrow_forwardCalculate the actual value of work done and the total actual profit contribution from all the projects as of the 31st of March.arrow_forwardThe following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $9,000 of direct materials. a. Cost of beginning work in process inventory completed in November. b. Cost of units transferred to the next department during November. c. Cost of ending work in process inventory on November 30. d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in process. If required, round your answers to two decimal places. e. The November increase or decrease in costs per equivalent unit for direct materials and conversion from the previous month. If required, round your answers to two decimal places.arrow_forward
- a. Based on the data in Exercise 20-7 (Attachment), determine the following for March:1. Direct materials cost per equivalent unit2. Conversion cost per equivalent unit3. Cost of the beginning work in process completed during March4. Cost of units started and completed during March5. Cost of the ending work in processb. Assuming that the direct materials cost is the same for February and March, did the conversion cost per equivalent unit increase, decrease, or remain the same in March?arrow_forwardThe following information is made available for October, what is the process quality yield?arrow_forwarda. Based upon the data in Exercise 17-7, determine the following for December: 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during December 4. Cost of units started and completed during December 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for November and December, did the conversion cost per equivalent unit increase, decrease, or remain the same in December?arrow_forward
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