Construction Job Costing
Project Name: City Center Tower
Location: Metropolis, USA
Project Start Date: January 1, 2050
Project End Date: December 31, 2052
Cost Category | Description | Estimated Cost (USD) | Actual Cost (USD) | Variance (USD) |
|---|
1. Labor Costs | | | | |
1.1 | Site Preparation | [2,500,000] | [2,600,000] | [+100,000] |
1.2 | Foundation Work | [4,000,000] | [3,950,000] | [-50,000] |
1.3 | Superstructure | [6,500,000] | [6,700,000] | [+200,000] |
1.4 | Electrical and Plumbing | [3,200,000] | [3,250,000] | [+50,000] |
2. Material Costs | | | | |
2.1 | Concrete | [1,800,000] | [1,850,000] | [+50,000] |
2.2 | Steel | [2,000,000] | [1,950,000] | [-50,000] |
2.3 | Finishes and Fixtures | [1,500,000] | [1,600,000] | [+100,000] |
3. Equipment Costs | | | | |
3.1 | Cranes and Lifts | [750,000] | [800,000] | [+50,000] |
3.2 | Tools and Machinery | [500,000] | [450,000] | [-50,000] |
4. Overhead Costs | | | | |
4.1 | Project Management | [1,200,000] | [1,250,000] | [+50,000] |
4.2 | Administrative Expenses | [600,000] | [620,000] | [+20,000] |
5. Contingency | | [1,000,000] | [950,000] | [-50,000] |
6. Total Costs | | [25,150,000] | [25,500,000] | +[350,000] |
Summary:
Total Estimated Cost: [25,150,000] USD
Total Actual Cost: [25,500,000] USD
Total Variance: [+350,000] USD
Notes:
The project experienced a variance mainly due to increased labor and material costs.
Contingency funds were not fully utilized, which somewhat mitigated the overall cost overrun.
Several cost-saving measures were implemented, including bulk purchasing and efficient methods, but these were offset by unforeseen increases in certain areas.
Prepared by:
[Your Name]
