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Problem 1 Construction company LA has a contract to build a house; He has made...

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Finance

Problem 1 Construction company LA has a contract to build a house; He has made the following cost estimations and change order: Description Original Estimate Change order Foundation & Excavation 63500 Framing and roofing 88000 8000 Windows and Sheet rock 29199 20000 Electrical and Pluming 34000 10000 Flooring and Painting 13000 Kitchen and Bathrooms 15000 Others 50000 20000 Committed cost includes $4000 for excavation, $8000 for electrical and pluming at this stage of project. LA has received a $ invoice for potable toilet which was included under others. 2000. Calculate estimated cost at completion variance and over /under cost at completion.

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