Page Comparison

...

A project is executed by its resources and the cost of these resources is represented by Labor Cost. You can specify a per hour cost rate for each resource. For employees or contractors this rate per hour is derived from their salaries. If the resource is say an equipment, the per hour usage rate of the equipment is the labor cost.

Cost(Est,Planned Labor) Cost = User cost rate * Number of hours (in hours or %) the resource is allocated on the task.

Cost(Act,Actual Labor) Cost = User cost rate * Hours (Actual) entered by resource (Approved time entries marked as costable).

...

When a project requires machinery, equipment such as computers, the cost of purchasing or renting this equipment is the Material Cost. Travel or communication costs also add up as material costs. These can be incurred along the life of the project.
Material costs are entered at a task level. The actual Material Cost is computed automatically when an expense marked costable is approved.

Cost (Est,Planned Non-labor) Cost = Sum of Cost (Est, Material) entered at task level.

CostActual (Act, Non-labor Cost) = Approved Expenses entered by the resource (marked costable)

...

This cost represents the cost that is incurred on the project under all circumstances, independent of any activity or progress of the project. The Accrued Fixed Cost is computed automatically when a task % complete is updated.
For example, if you have hired an office to work on a project, the rent and bills add up as its fixed costs.

Fixed Cost (Est, Fixed) = Sum of Cost (Fixed) entered at task level.

CostActual (Accrued, Fixed)Fixed Cost = Actual Fixed Cost = Sum of Cost (Fixed) entered at task level * % Complete of task

...

In addition to these costs there is a Projected Cost which is a guesstimate cost that is likely to be incurred by the time a project completes. This is automatically calculated based on the actual costs and progress of the project.

Projected Cost (Projected) = Sum of Cost (Projected) of the topmost tasks

...