Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

Please help me with this question. See the attached document

/in /by

Please help me with this question. See the attached document.

You only will do:

style=”color:rgb(34,34,34);background-color:rgb(255,255,255);”>Project Budget

Please use the second attachment as an example

Thank you

 ATTACHMENT PREVIEW Download attachmentRobinson Kitchen Renovation Project BudgetDeVry UniversitySubmitted: Saturday, April 11, 2015Robinson Kitchen Renovation Project Budget

Background image of page 1

View the AnswerPart 1: Cost ManagementFor the Robinson kitchen renovation project we used a bottom-up method of budgeting.To do this we used the work breakdown structure to apply direct and indirect costs to the projectactivities. We totaled the costs of each activity, work package, and deliverables, and thencombined those costs for the overall project budget. This budget method was used because itgives a more accurate cost prediction than the top-down method for this construction project.Original Budgeted CostActual Budgeted CostEstimated Labor$25,000$11,400Estimated Materials$25,000$15,550Estimated Contractors$5,000$12,300Estimated Equipment$4,000$4,000Estimated Travel$1,000$1,000Total Estimated Cost$60,000$44,250The chart above shows the original budgeted cost in the center column versus the actualbudgeted cost, created from the work breakdown structure. The customer will be billed $60,000for the project and therefore the difference in actual cost and the $60,000 will be the profit. Theoriginal budget was $60,000 maximum and the actual budgeted cost of completing the project is$44,250. Therefore, the projected profit for the company for this job is $15,750. The estimatedequipment and travel expenses did not change in these two budgets. However, the labor costs areshown to be significantly lower as this only includes the labor for the carpenter and carpenterhelper. However, the contractor estimate is significantly higher because this item includes thelabor for the electrician, plumber, painter, and custom cabinet makers. The materials cost is alsolower in this final budget as materials were purchased at a discount through a contract with asupplier.

Background image of page 2

Show 

 
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"