1. What components should be included when estimating activity costs? 2. In your own words, describe the project budgeting process. 3. Refer to the table below. What is the cumulative budgeted cost at the end of week 6? Amounts are in thousands of dollars. Week TBC 2 3 4 5 6 7 8 9 10 Task 30 10 15 5 Task 2 70 10 10 10 20 10 10 Task 3 40 5 25 Task 4 30 20 Total 170 10 25 15 10 25 15 35 10 20 Cumulative 4. What does it mean when cost variance is negative? What about a positive cost variance? 5. Define the calculation for each of the following terms: a. TBC b. CBC c. CAC d. CPI