As a member of the software development team, you estimate a total project cost of $175,000. You have designated control points to measure project progress. At control point 2, the following data is available:

Budget Cost of Work Performed: $34,000. Actual Cost of Work Performed: $37,500.

Compute the cost variance, schedule variance, cost performance index, schedule performance index, and estimated actual cost using the information presented at control point 2. Interpret the project schedule and budget status from the calculations.