A homeowner hires a contractor to build a four-sided square fence around his home. The homeowner… 1 answer below »

A homeowner hires a contractor to build a four-sided square fence around his home. The homeowner provides the materials and the contractor supplies the labor. The contractor estimates each side will cost $2000 and require one week in duration.

At the end of week 1, the first side is completed at a cost of $2000. During week 2, the second side is completed but at a cost of $2400 because the contractor damaged a water line that the contractor had to repair. During week 3, the contractor completed only half of the fence for $1000 because it rained for the remaining half of the week.

At the end of week 3, the contractor must prepare an earned value measurement status report. Calculate the following:

 

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