2:31 PM Sun Apr 19 97% chegg.com Problem The project in Problem is expected to take 9 months to complete. The costs for the project at the end of the second month are shown in Figure. You have a meeting with project's owner to discuss the financial status of the project. Using the committed cost worksheet from Problem 10, update the estimated cost at completion and determine if the project is over or under budget. The supervision and temporary utility costs should be prorated over the life of the project. The pouring of the footings, foundations, and floor slab are complete. Cost: Code Description Cost To Date 1100 Supervision 7,985 1700 Temporary Utilities 1,615 3300 Footing and Foundation-Labor 3,685 3400 Footing and Foundation-Concrete 3,321 3450 Concrete Pump 1,569 3500 Slab/Floor-Labor 1,896 3600 Slab/Floor-Concrete 6,955 3900 Rebar 999 4100 Masonry 36,000 31100 Grading and Excavation 3,150 2:31 PM Sun Apr 19 97% chegg.com Your company has been hired to act as a construction manager for the construction of a bookstore for a fixed fee of $32,000. When the design was 90% complete, you prepared a budget for the project, which is shown in Figure Code Description Budget Code Description Budget 01100 Supervision 36,000 01700 Temporary Utilities 6,700 01900 Cleanup 4,600 03300 Footing and Foundation-Labor 3,400 03400 Footing and Foundation - Concrete 3,500 03450 Concrete Pump 1,700 03500 Slab/Floor-Labor 2,100 03600 Slab/Floor-Concrete 6,800 03900 Rebar 1,100 04100 Masonry 44,000 05100 Structural Steel 11,000 05300 Joist and Deck 15,500 05900 Erection 8,600 06110 Rough Carpentry 500 2:31 PM Sun Apr 19 97% chegg.com 06120 Lumber 900 07200 Insulation 1,700 07500 Roofing 9,000 07700 Roof Specialties 1,000 08110 Metal Doors and Frames 2,900 08400 Store Fronts 9,500 08700 Hardware 1,900 09100 Drywall 6,700 09200 Ceramic Tile 2,100 09300 Acoustical Treatment 7,200 09400 Carpet and Vinyl 5,500 09800 Paint 8,200 10400 Signage 500 10800 Toilet & Bath Accessories 1,000 12300 Cabinetry and Countertops 10,000 21100 Fire Sprinklers 6.700 22100 Plumbing 24,000 23100 HVAC 23,000 2:31 PM Sun Apr 19 97% chegg.com 26100 Electrical 19,000 31100 Grading and Excavation 6,300 32100 Asphalt 17,000 32200 Site Concrete-Labor 1,000 32300 Site Concrete-Concrete 1,000 32500 Landscaping 1,000 33100 Sanitary Sewer 1,000 33200 Water Line 1,000 Profit and Overhead 32,000 TOTAL 346,600 Subcontracts Code Amount Description Contract 04100 Masonry 42,136 05900 Erection 8,200 07200 Insulation 1.802 07500 Roofing 8.875 08400 Store Fronts 9,100 09100 Drywall 6,898 2:32 PM Sun Apr 19 97% chegg.com 09200 Ceramic Tile 1,999 09300 Acoustical Treatment 6,995 09400 Carpet and Vinyl 5,354 09800 Paint 8,000 12300 Cabinetry and Countertops 9,865 21100 Fire Sprinklers 7,000 22100 Plumbing 22,115 23100 HVAC 23,850 26100 Electrical 17,825 31100 Grading and Excavation 6,150 32100 Asphalt 17,569 33100 Sanitary Sewer 1,359 33200 Water Line 1,125 During the buyout, the subcontracts shown in Figure were signed and the purchase orders shown in Figure were issued. No additional costs are expected for the contracts in Figure and the purchase orders in Figure. A purchase order has been issued for concrete for $115 per cubic yard. This price is 4% below the costs used in the budget. You have a meeting with the project's owner to discuss the financial status of the project. Using the committed cost worksheet in Figure of the textbook, update the estimated cost at completion and determine if the project is over or under budget. Purchase Orders Purchase Orders Code Description PO Amount 05100 Structural Steel 10.250 05300 Joist and Deck 15,500 06120 Lumber 875 07700 Roof Specialties 945 08110 Metal Doors and Frames 2.725 08700 Hardware 1,864 10400 Signage 486 10800 Toilet & Bath Accessories 965 FIGURE: Committed Cost Worksheet