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Year Budgeted Costs Actual Costs Cumulative Budgeted Costs Cumulative Actual Costs 1 $400,000 $420,000 2 $450,000 $460,000 3 $500,000 $480,000 4 $550,000 $570,000 Complete the
| Year | Budgeted Costs | Actual Costs | Cumulative Budgeted Costs | Cumulative Actual Costs |
|---|---|---|---|---|
| 1 | $400,000 | $420,000 | ||
| 2 | $450,000 | $460,000 | ||
| 3 | $500,000 | $480,000 | ||
| 4 | $550,000 | $570,000 |
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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International Accounting
Authors: Frederick D. Choi, Gary K. Meek
7th Edition
978-0136111474, 0136111475
