The % Complete Column is the estimated amount you have completed for a Category.
The % Complete is used to calculate the Projected Final Costs for that Category, which is ultimately compared to your Budgeted Amount.
Projected Formula
Projected = Spent to Date / % Complete
Variance = Projected - Budgeted
Example
Ex: Let's say you had an initial budget of $4,000 for roofing. There was a change order and the roofing ended up costing $4,500.
Projected = $4,500 / 100%
= $4,500
Variance = $4,500 - $4,000
= +$500 over budget