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Year Budgeted Costs Actual Costs Cumulative Budgeted Costs Cumulative Actual Costs 1 $150,000 $160,000 2 $200,000 $190,000 3 $250,000 $240,000 4 $300,000 $310,000 Complete the
| Year | Budgeted Costs | Actual Costs | Cumulative Budgeted Costs | Cumulative Actual Costs |
|---|---|---|---|---|
| 1 | $150,000 | $160,000 | ||
| 2 | $200,000 | $190,000 | ||
| 3 | $250,000 | $240,000 | ||
| 4 | $300,000 | $310,000 |
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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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
2nd Edition
0078110823, 9780078110825
