ou work for a local construction firm DeVry Engineering Groupand your supervisor Jessica needs an updated earned valueanalysis index of the prior month for an existing capital project(0000001) that has a current Budget at Completion (BAC) of$1500.00 a current earned value of (EV) of $300 a current actualcost (AC) of $500.00 and a current planned value (PV) of $350.00.In order to calculate the current average index assume thefollowing variables and standard formulas below: Cost Variance (CV)EVAC Cost Performance Index (CPI) EV/AC Schedule Variance (SV)EVPV Schedule Performance Index (SPI) EV/PV Estimate to Completion(ETC) EACAC Estimate at Completion (EAC) BAC/CPI Variance atCompletion (VAC) BACEAC Status (Earned Value Index) (EVI)(CPI+SPI)/2 Also assume that a final calculated average index of1.00 or greater represents a project being on track and in goodstanding. In addition there could be several options for thedescriptive methods to design this worksheet and below is aworksheet setup with the following 3 columns including any otherneeded top labels like for the existing Month alreadycalculated.