Budgeted costs include:
A)the costs incurred this year.
B)the costs incurred last year.
C)the planned or forecasted costs.
D)the cost of a competitor.
E)the costs incurred two years ago.

Question

Quizplus · Accepted Answer

Budgeted costs refer to the planned or forecasted costs for a given period, usually a year. Options A, B, and E refer to actual costs incurred in the past and may not be relevant to the budget for the current period. Option D is not related to budgeted costs at all, making option C the best choice.

Budgeted Costs Include