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Year Budgeted Costs Actual Costs Cumulative Budgeted Costs Cumulative Actual Costs 1 $300,000 $320,000 2 $350,000 $360,000 3 $400,000 $380,000 4 $450,000 $470,000 Complete the
| Year | Budgeted Costs | Actual Costs | Cumulative Budgeted Costs | Cumulative Actual Costs |
|---|---|---|---|---|
| 1 | $300,000 | $320,000 | ||
| 2 | $350,000 | $360,000 | ||
| 3 | $400,000 | $380,000 | ||
| 4 | $450,000 | $470,000 |
Complete the table and answer the following questions:
- Calculate the cumulative budgeted costs and cumulative actual costs for each year.
- Determine the cost variance for each year.
- Analyze the cost trends and their potential impact on the project's financial performance.
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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
