Consider a project that involves painting five similar houses over ten weeks (one house every two weeks) for a total budgeted cost of R200 000.The budget is R4 0000 per house.At of the end of week 5, you determine that R100 000 has actually been spent and three houses have been painted completely.What is the earned value of the project?
A)R100 000
B)R120 000
C)R40 000
D)R200 000

Question

Quizplus · Accepted Answer

The earned value is the value of the work actually completed at any given point in time. At the end of week 5, three houses have been painted, which should have cost R120 000 (3 houses x R40 000 per house). However, the actual cost incurred is only R100 000. Therefore, the earned value is R120 000.

Consider a Project That Involves Painting Five Similar Houses Over