Exercise Solutions

Exercise 1

At the completion of Exercise 1, your spreadsheet should look like this table:

Team Member	Yearly Salary	Hourly Wage	Best Time (Hours)	Cost	Worst Time (Hours)	Cost	Average Time (Hours)	Average Cost
Rick Gordon	$73,500	$35.34	4.5	$159.	7.0	$247.	5.75	203.
Samantha Murray	$67,500	$32.45	5.0	$162.25	9.0	$292.05	7	227.15
Bradley Kiser	$43,200	$20.77	9.0	$186.93	15.0	$311.55	12	249.24
Harriet Sutherland	$37,600	$18.08	12.0	$216.96	19.0	$343.52	15.5	280.24
Fred Stephens	$57,600	$27.69	8.0	$221.52	16.0	$443.04	12	332.28

Exercise 1 included four questions pertaining to the Time Cost Worksheet. Here are the answers:

1. Samantha Murray s average cost for the assigned task is $227.16.

2. If Bradley Kiser takes 15 hours to complete the task, the cost will be $311.54.

3. If Harriet Sutherland beats her predicted best time by 2 hours, the cost will be $180.77.

4. The average cost of Fred Stephens time is $332.31

Exercise 2

At the completion of Exercise 2, your spreadsheet should look like this:

Phase 1
Budget for phase	$42,000.00		Amount spent to date	$41,694.87
			Amount from budget	$305.13
Team Members	Hourly Rate	Week 1 Hours	Week 2 Hours	Week 3 Hours	Hours to Date	Cost to Date
Steve Ledbetter	$21.63	37.0	30.0	37.0	104.0	$2249.52
Sally Dehority	$30.53	27.0	25.0	28.0	80.0	$2242.40
Jane Chambers	$32.81	38.0	37.5	39.0	114.5	$3756.75
John Maxwell	$32.31	29.0	40.0	21.0	90.0	$2907.90
Fred Hoffman	$30.38	35.0	40.0	37.0	112.0	$3402.56
Total						$14,559.13
Purchases	Cost	Number of Units	Totals
Server 1	$7854.00	2	$15,708.00
Network cable	$1800.00	3	$5400.00
Network cards	$21.34	227	$4844.18
Total			$25,952.18
Incidentals	Cost	Number of Units	Totals
PC tool kit	$27.80	5	$139.00
RJ-45 Connectors (box)	$98.79	2	$197.58
Line testers	$49.00	4	$196.00
Team dinner	$150.00	3	$450.00
Total			$982.58