1. A project you work on has a budgeted cost of $1,20,000. You have 1 year to complete the project. One month has passed and only 15% of the project was completed instead of the planned completion of 20%. The expenses were found to be $150,000. a. Is the project over budget? Explain. b. Is the behind schedule? Explain. . c. Calculate the estimate cost to complete the project. 2. A project you manage is expected to be completed in 16 months at an equally monthly cost of $20,000. The project is 60% completed after 4 months at a cost of $80,000. a. Is the project over budget? Explain. b. Is the behind schedule? Explain. c. Calculate the estimate cost to complete the project