Name: CMGT460 COST CONTROLS Activity #1 - Understanding and Managing Project Costs Butch & Bubba O Case study: Butch and Bubba @ Lost Lake Butch and Bubba want to take a day off and go fishin. Need to complete all work in 9 days instead of 10. Need to make wages for the last day ($320). Use the cost data from week #1 to make the decision whether or not to go fishing. O O . Using the provided information, determine if Butch and Bubba can go Finshin! Add your name to the top of this document. Name the file: LastNameActivity1 Submit as a PDF on the CMGT460 Canvas site. . . o o Data Analysis Bid Data Analysis o Bid of $ 3,200 for installing drywall (taping is in a separate line item). 10,667 SF. 160 manhours @ $ 20/hr. 2 installers (Butch and Bubba) for 2 weeks. Information Needed to Examine Current Progress Current Cost. Amount of production to date. Amount remaining to be completed. Compare estimated cost with current cost. o Lost Lake Community Center Week #1 Cost Data Monday Tuesday Wednesday Thursday Friday Total 1-Jun 2-Jun 3-Jun 4-Jun 5-Jun Hours 16 16 16 16 16 80 Production 1050 1280 1280 1050 1280 5940 Cost @ $20/hr 320.00 320.00 320.00 320.00 320.00 1,600.00 Cost/SF 0.30 0.25 0.25 0.30 0.25 0.27 As Per Bid @ $.30/SF 315.00 384.00 384.00 315.00 384.00 1,782.00 Daily Cost Variance -5.00 64.00 64.00 -5.00 64.00 182.00 Question: Can Butch and Bubba Go Fishin? . Time: Wage Cost