QUESTION 2 Answer the questions from the information provided. 2.1 Use the information provided below to calculate and comment on the following in respect of the project: 2.1.1 Cost variance 2.1.2...

Extracted text: QUESTION 2 Answer the questions from the information provided. 2.1 Use the information provided below to calculate and comment on the following in respect of the project: 2.1.1 Cost variance 2.1.2 Cost variance % 2.1.3 Schedule variance %. INFORMATION The following information is available for a project undertaken by Midi Limited: The budget that has been authorised for the scheduled work to be completed R200 000 The value of work completed expressed in terms of approved budget allocated to that work R150 000 Total costs that were incurred to accomplish the work performed during the given time period R250 000 The total planned value of the project R600 000