Q1. What are the differences between bottom-up and top-down estimating approaches? Under what conditions would you prefer one over the other. (20 points) Q2. Consider the bid cost for any project $500000 which is without profit then calculate the following. a. Cost of each item. (10 points) b. Identify which cost is Direct, Direct Project Overhead Costs, and General and Administrative Overhead Costs. (5 points) c. 20% profit margin and find the total bid cost including profit. (5 points) Costs Amount Identify the type of costs 1 Labor cost 12% 2 Material cost 10% 3 Manufacturing supply cost 4% 4 Rent 22% 5 11% 6 10% 7 9% Specialized machinery cost Quality control cost Insurance cost Advertising cost Accounting cost Senior management salary 8 3% 9 5% 10 14% Q3. Answer the below questions. a. Briefly explain the Apportion method and discuss when it is applied. (10 points) b. Given the below WBS of the "e-Commerce Website for X-cite" project, calculate the cost for each of the project deliverables. (30 points)