The Budgeted Cost for the Work Scheduled to Be Completed

question 45

Multiple Choice

The budgeted cost for the work scheduled to be completed on an activity up to a given point of time is referred to as:

• A)PC.
• B)PV.
• C)EV.
• D)EC.

---

Definitions:

Beginning Inventory

The worth of products ready for purchase at the beginning of a financial period.

Transferred In

Costs or value brought into a new account or process, often used in manufacturing to describe costs from a previous process carried into another.

Beginning Work in Process

The worth of products that are undergoing manufacturing at the beginning of a financial period.

Units Completed

A measure of the number of finished products that have completed the manufacturing process.