Per the Telegraph
http://www.telegraph.co.uk/sport/fo...pending-from-the-200001-season-to-201112.html
Everton spending
07/08
Net transfer spend ranking 10/20
Wages 11/20
position 5th
08/09
Net transfer spend ranking 9/20
Wages 12/20
position 5th
09/10
Net transfer spend ranking 14/20
Wages 10/20
position 8th
10/11
Net transfer spend ranking 16/20
Wages 9/20
position 7th
11/12
Net transfer spend ranking 16/20
Wages N/A
position 7th
So Everton are usually around the middle of the pack or lower in terms of expenditure and yet continually finish better then that. A lot of the time in recent years they've sold more than they've bought. Moyes is consistently doing a lot with a limited budget and a thin squad where he typically has to sell to buy.
Could he have done better in cups, yes probably but his squad is very thin and their clear goal is to focus on league position and that reflects a general move away in club priorities. There's a reason people have said that the FA cup etc isn't as good as it was and it's because it's not a priority to most clubs, nor is a competition like the UEFA cup.