Job Masterfile Maintenance, Job Masterfile Inquiry, and various Job Cost reports provide you with important cost analysis information that allows you to evaluate the level of completion and profitability of each job. Additional cost analysis information is provided for cost code and cost type detail within each job.
The following formulas are used to calculate the cost analysis information for each job.
Calculated Percentage Complete
This percentage represents the level of completion for a job based on the job-to-date cost and the revised estimate amount for the job.
JTD CostRev. / Estimate
Current Cost Variance
This amount represents the dollar amount that a job's total cost is over (if negative) or under (if positive) the revised estimate, given the percentage of completion for the job and the job-to-date cost. If the actual percentage complete is not entered for a job, the calculated percentage complete is used instead. When the calculated percentage complete is used there is not a variance.
(Rev. Estimate x Actual % Complete) - JTD Cost
Projected Variance
This amount represents the dollar amount that a job's total cost is projected to be over (if negative) or under (if positive) the revised estimate at the completion of the job, given the percentage of completion and the job-to-date cost. If the actual percentage complete is not entered for a job, the calculated percentage complete is used.
Rev. Estimate - (JTD Cost / Actual % Complete)
Projected Variance Percentage
This is the percentage of the revised estimate by which a job's total cost is projected to be over (if negative) or under (if positive) the revised estimate amount.
Projected Variance / Rev. Estimate
Projected Cost to Complete
This is the projected additional cost necessary to complete a job, given the job-to-date cost and the percentage of completion. If the actual percentage complete is not entered for a job, the calculated percentage complete is used.
(JTD Cost / Actual % Complete) - JTD Cost
Percentage of Contract Billed
This is the percentage of the revised contract amount billed to date for a job. For jobs being billed on a percentage-of-completion basis, this percentage should be close to the actual percentage complete or the calculated percentage complete.
Billed to Date / Rev. Contract
Overbilled/Underbilled
This amount represents the amount by which a job is overbilled (if positive) or underbilled (if negative). This amount is calculated by subtracting the portion of the revised contract that is billable (revised contract multiplied by the actual or calculated percentage of completion) from the billed-to-date amount. This amount and the percentage of contract billed are meaningful only for fixed contract jobs.
Billed to Date - (Rev. Contract x Actual or Calculated % Complete)
If the actual percentage complete is not entered for a job or Calculated is selected in the Actual or Calculated % Complete for Over/Under Billed field in the Job Cost Options window, the calculated percentage complete is used for the calculation of the overbilled/underbilled amount; otherwise, the actual percentage complete is used.
Projected Profit
This amount is the projected profit for a job based on the revised contract minus the projected total cost for the job (job-to-date cost divided by actual percentage of completion). If the actual percent complete is not entered for a job, the calculated percent complete is used.
Rev. Contract - (JTD Cost / Actual % Complete)
Projected Profit Percentage
This percentage is the profit margin projected for the job based on the job-to-date cost and the percentage of completion.
Projected Profit / Rev. Contract
The following formulas are used to calculate the cost code/cost type detail information for each job.
Percentage of Estimate
This is the job-to-date cost for a cost code and/or cost type as a percentage of the revised estimate. This figure is always based on cost, regardless of the completion method specified for the cost code/cost type.
JTD Cost / Rev. Estimate Cost
Actual Percentage Completion
This percentage is either entered manually in Job Field Report Entry or Job Masterfile Maintenance, or calculated based on units or costs as specified by the completion method (unit or cost) for the cost code/cost type. The completion method used (unit or cost) or the date reported for percentages entered manually is printed on Job Cost reports next to the percentage.
Using the Unit Completion method:
JTD Units / Rev. Estimate Units
Using the Cost Completion method:
JTD Cost / Rev. Estimate Cost
Projected Cost to Complete
This formula is the same as the formula used to calculate the projected cost to complete the job.
(JTD CostActual % Complete) - JTD Cost
Projected Percentage of Estimate
This is the projected job-to-date cost for a cost code and/or cost type as a percentage of the revised estimate.
(JTD Cost / Actual % Complete) / Rev. Estimate Cost
Current Variance
This formula is the same as the formula used to calculate the current cost variance for the job.
(Rev. Estimate Cost x Actual % Complete) - JTD Cost
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