Profitability index is 0.0102, while schedule performance measure is 0.0099.
A cost variation, in general, is the discrepancy between a cost's actual number and its intended or budgeted amount. For instance, a corporation would have a cost variation of $150 if actual repairs costs for May were $950 as opposed to the $800 projected amount.
The authors of the budget could make mistakes as they are putting the approach together.
PV = $540,000
EV = $535,000
AC = $523,000
Cost variance = EV-AC
=$535,000 - $523,000
= $120,00
Schedule variance = EV-PV
=$535,000-$540,000
= - $5,000
Cost Performance Index= EV/AC
=$535,000/$523,000
=1.02% or 0.0102
Schedule Performance Index= EV/PV
=$535,000/$540,000
=0.99% or 0.0099
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