* The ParkFine Company has a $200,000 fixed-cost contract to install 1,000 new parking meters. The contract calls for removing old parking meters from their stands and replacing them with new ones. The cost for this is $200 per meter. # ParkFine estimates that 25 meters can be installed each day. At that rate and a cost of $200 per meter, the project should take 40 working days to finish and have final PV of $200,000. * Also based on the above basis, the budgeted cost of the work scheduled (BCWS or PV) for any given day in the project is determined simply by multiplying the number of working days completed by the cost of installing 25 meters ($200 x 25). Assume that at the end of day 18, 400 meters have been installed. Plot an earned value chart and determine: (a) the schedule variance; and (b) time variance of this project. * The ParkFine Company has a $200,000 fixed-cost contract to install 1,000 new parking meters. The contract calls for removing old parking meters from their stands and replacing them with new ones. The cost for this is $200 per meter. # ParkFine estimates that 25 meters can be installed each day. At that rate and a cost of $200 per meter, the project should take 40 working days to finish and have final PV of $200,000. * Also based on the above basis, the budgeted cost of the work scheduled (BCWS or PV) for any given day in the project is determined simply by multiplying the number of working days completed by the cost of installing 25 meters ($200 x 25). Assume that at the end of day 18, 400 meters have been installed. Plot an earned value chart and determine: (a) the schedule variance; and (b) time variance of this project