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Compare Estimate
Against Actual Costs
Against Actual Costs
Associated with each cost field are 5 separate cost fields:
Estimated cost – the original estimated cost
Actual cost to date – the actual cost of the item to date
Balance of estimate – difference between the estimated cost and actual cost to date
Projected cost to complete – what the item will project to cost in order to finish the job
Total projected cost – total cost for that item. It is the sum of the actual cost to date and projected cost to
complete.
In the project below, actual Shop Labor costs exceeded estimated costs by $8,000. This represents an
increase of 9.8%. Actual gross profit was off by $63,790, a difference of 3.5%.
Estimated cost – the original estimated cost
Actual cost to date – the actual cost of the item to date
Balance of estimate – difference between the estimated cost and actual cost to date
Projected cost to complete – what the item will project to cost in order to finish the job
Total projected cost – total cost for that item. It is the sum of the actual cost to date and projected cost to
complete.
In the project below, actual Shop Labor costs exceeded estimated costs by $8,000. This represents an
increase of 9.8%. Actual gross profit was off by $63,790, a difference of 3.5%.