The budget for the Baldwin Equipment, Inc. job in P9-1 consisted of the following amounts:

Partners’ salary and overhead . . . . . . . . . . . . . $6,300

Associates’ salary and overhead . . . . . . . . . . . . 9,175

Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,150

Telephone/fax/copying . . . . . . . . . . . . . . . . . . . 1,475

The successful bid price of the job was $30,000.

Required:

1. Prepare a cost performance report.

2. Compute the budgeted profit and the actual profit on the job.