Fulton Construction is a general contractor for large construction projects. The budget costs and the time to reach a particular percentage of completion (in months) follow. Also shown are the actual results (cost and months) up to the latest report, which was at the end of month 19. 

Required

a. At this time, what is the current cost over- (under-) run on the project?

b. At this time, by how far ahead or behind schedule is the project in terms of percentage of completion?

1 2 % Complete 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 A 21 22 23 24 25 0% $ 5% $ 10% $ 15% $ 20% $ 25% $ 30% $ 35% $ 40% $ 45% $ 50% $ 55% $ 60% $ 65% $ 70% $ 75% $ 80% $ 85% $ 90% $ 95% $ 100% $ Budget Cost ($000) 2,236 3,162 3,873 4,472 5,000 5,477 5,916 6,325 6,708 7,071 7,416 7,746 8,062 8,367 8,660 8,944 9,220 9,487 9,747 10,000 Actual 774 1,545 2,308 3,061 3,799 4,520 5,221 5,899 6,553 7,182 7,783 8,356 8,900 9,416 9,902 10,361 10,791 11,194 D E Months to Reach Budget 0 0 1 1 23345678 9 10 12 13 14 16 17 19 20 Actual 0 4 6 8 9 10 11 12 13 13 14 15 15 16 17 17 18 18 19