Which financial document helps in determining costs that have exceeded budgeted amounts?

The profit-and-loss report, also known as the income statement, is the financial document that helps determine costs that have exceeded budgeted amounts. It summarizes a business's revenues and expenses over a specific period, allowing managers to analyze financial performance. By comparing actual expenses to the budgeted amounts outlined in the financial plan, management can identify areas where costs are higher than anticipated. This insight enables them to take corrective action and manage expenses effectively.

The balance sheet provides a snapshot of a company's assets, liabilities, and equity at a specific point in time, but it does not detail the revenues and expenses over a period, making it less suitable for cost analysis against budgets. The cash flow statement tracks the flow of cash in and out of the business but does not provide a comparison of planned versus actual expenses. Lastly, the inventory report focuses on the quantity and value of inventory on hand rather than overall financial performance or budget adherence. Thus, the profit-and-loss report is specifically designed to address the need to monitor costs relative to budget expectations.