Actual cost
Revision as of 23:48, 30 May 2020 by Gary (talk | contribs) (Created page with "Actual cost (also known by its acronym, AC) is the actual amount of money either paid for material or charged as labor, material, or overhead to a work order. In o...")
Actual cost (also known by its acronym, AC) is the actual amount of money either paid for material or charged as labor, material, or overhead to a work order. In other words, actual costs are total costs incurred that must relate to whatever cost was budgeted within the planned value and earned value (which can sometimes be direct labor hours alone, direct costs alone, or all costs including indirect costs) in accomplishing work during a given time period.
