INDIRECT COST - GENERAL AND AMINISTRATIVE The company assigns General and Administrative expenses as at a rate of 7% of total direct cost to all projects over the course of the projects. Assumptions when preparing the time phased project budget: - You may assume 5 work days per week and 8 work hours per day. - You may assume that the cost incurred per activity (direct or indirect) is incurred equally over the period of the activity. For example, if a cost of R100 is planned for an activity that spans over 2 wees, the cost will be shown as R50 in week 1 and R50 in week 2. YOU ARE REQUIRED TO: Based on the information above compile a weekly time phased budget (cost and income) for the project. PLEASE SHOW ALL CACULATIONS QUESTION 3 (10 marks) Your company has been awarded a contract to clean the shoulder and verge of a provincial road stretching 325km. The estimated cost of the entire project is R812 500 . The project has to be delivered within 65 work days. On day 42,190km has been completed at a total cost of R380 000. YOU ARE REQUIRED TO: A. Determine the Planned Value on day 42 ; B. Determine the Earned Value on day 42 ; C. Determine and interpret the Schedule Variance (in Rand) on day 42 ; D. Determine and interpret the Time Variance in (in days) on day 42 ; E. Determine and interpret the Cost Variance (in Rand) on day 42. PLEASE SHOW ALL CACULATIONS