Updated Budget

 

            NAVAIR invested $4,300.00 in this project. The Engineering Alumni Society granted an additional $500.00.  With a total operating budget of $4,800.00 available, our team built a model to project costs and arrived at $570.00.  Projected costs included purchase of raw materials, fabricated parts, and assembly. Of the $4,800.00 available our team spent $401.46.  Note that these figures for projected costs and actual costs-to-date do not include the costs associated with approximately eight labor hours spent by technicians in the machine shop towards tooling of housing and designed socket. The $401.46 includes major costs, such as a hand held power screw driver which is included in equipment for final prototype.  Also, another major expense was the purchase of hand drills and socket wrenches used for research and development (representing 80% of R&D).

 

Projected Cost for our project is shown below. 

 

Actual Cost for our project is shown below.

 

 

 

Categories of expenditures as a percent of total expenditures is shown below.