The actual amount spent in completing the work accomplished within a given time period best defines
A)fixed costs.
B)actual costs.
C)designated costs.
D)earned value costs.

Question

Quizplus · Accepted Answer

Actual costs refer to the real expenses incurred in completing a project or specific work within a given timeframe. It takes into consideration all expenses, including direct and indirect costs, labor cost, materials, and any other costs related to the project. Therefore, option B best defines the actual costs. Option A refers to costs that remain constant irrespective of the volume of production, option C refers to allocated funds to specific tasks, while option D refers to the budgeted cost of the actual work accomplished within a given period.

The Actual Amount Spent in Completing the Work Accomplished Within