Prepare a performance report for the humphrey catalog

Question

Problem-

Software Associates (SA) is a computer software consulting firm that specializes in designing and implementing integrated marketing database warehousing programs. Humphrey Catalog is a client. In preparing its bid for Humphrey, SA estimates its total labor cost for this project to be $222,500, broken down as follows:

                                 Budgeted Hours    Budgeted Wage     Budgeted Cost

Partner Associate Senior analyst Analyst Programmer Total

100 300 600 1,000 3,000

$175 $120 $90 $40 $25

$17,500 $36,000 $54,000 $40,000 $75,000 $222,500

After completing the Humphrey contract, SA reports the following data.

                                          Actual Hours                    Actual Costs

Partner Associate Senior analyst Analyst Programmer Total

90 280 750 1,400 3,600

$15,750 $35,000 $63,750 $49,000 $82,800 $246,300

Required:

1. Prepare a performance report for the Humphrey Catalog project.
2. Offer a plausible explanation for SA's performance on the Humphrey project.

Additional information-

This problem belongs to Accounting and it discusses about preparing performance report for a project.

Word limit- 150.