During a project's execution, the following data is collected:
What is the project's cost variance?
$20,000
$10,000
-$10,000
-$20,000
Cost Variance (CV) is calculated using the formula CV = EV - AC. Substituting the given values:
CV = $140,000 - $160,000 = -$20,000
A negative cost variance indicates that the project is over budget by $20,000. The other options result from common miscalculations, such as reversing the formula or neglecting the negative sign.
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