Flexible budget components are divided into two components: ______________________ and __________________________
Flexible budget components are divided into two components: ______________________ and __________________________
Homework Answers
Flexible budget components are divided into two components actual output and static budget price
As the flexible budget is calculated on the actual sales and static budget price.
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Flexible budget components are divided into two components:
______________________ and __________________________
The Two Components of the direct labor flexible budget variance are the: a. the direct labor...
The Two Components of the direct labor flexible budget variance are the: a. the direct labor price variance and the direct labor quantity variance. b. the direct labor rate variance and the direct labor efficiency variance. c. the direct labor rate variance and the direct labor standard variance. d. the direct labor efficiency variance and the direct labor standard variance. (The answer is not C.)
Which of the following is false: A. The flexible budget is prepared using the actual volume...
Which of the following is false: A. The flexible budget is prepared using the actual volume achieved during the period. B. The difference between actual results and the master budget is called the master budget variance. C. The volume variance is due to causes other than volume. D. The master budget variance can be split into two components: a volume variance and a flexible budget variance.
EPPUPILLUS ELLU VEELUILDILE EVALULIO. Define the following terms: static budget, flexible budget. Describe the appr...
EPPUPILLUS ELLU VEELUILDILE EVALULIO. Define the following terms: static budget, flexible budget. Describe the appropriate use of a "before-the-fact" and an "after-the-fact" flexible budget. Why must mixed costs be broken down into the fixed and variable components?
Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget...
Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 11,000 travel locks for Gianni, Inc. B (Click the icon to view the report) (For variances with a $0 value, make sure to enter "O" in the appropriate cells.) i Data Table Gianni, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2018 Actual Flexible Budget Results Variance Units 11,000L Sales Revenue S 209,000 Variable Costs 51,900 Contribution...
Calculate the flexible budget amounts and the flexible budget variances. Note whether each variance is favorable...
Calculate the flexible budget amounts and the flexible budget variances. Note whether each variance is favorable or unfavorable. Also, fill in the number of units used to calculate the flexible budget amounts. There are 16 boxes to fill in. Units 10,000 9,000 ? Actual results Original (static) budget Flexible budget Flexible budget variances Favorable or unfavorable Direct materials 66,500 58,500 ? ? ? Direct labor 80,100 67,500 ? ? ? Variance overhead 9,700 9,000 ? ? ? Fixed overhead 224,500...
Explain various components of master budget and its importances and also explain what is meant by...
Explain various components of master budget and its importances and also explain what is meant by flexible budget.
Actual Results Flexible Budget Variance Flexible Budget Sales Activity Variance Master Budget Units 13,000 ? 2,000...
Actual Results Flexible Budget Variance Flexible Budget Sales Activity Variance Master Budget Units 13,000 ? 2,000 U ? Sales revenue ? 13,000 F ? ? ? Less: Variable mfg. costs $ 87,750 $ 91,000 ? $ 105,000 Variable mktg/adm.costs ? $ 3,250 U ? $ 4,000 F 30,000 Contribution margin $ 52,000 ? ? $ 6,000 U ? What is the sales revenue in the flexible budget?
Match each form to the correct definition Terms a. Flexible budget b. Flexible budget variance c....
Match each form to the correct definition Terms a. Flexible budget b. Flexible budget variance c. Sales volume variance d Static budget e. Variance - Definitions 1. A summarized budget for several levels of volume that separates variable costs from foxed costs 2. A budget prepared for only one level of sales 3. The difference between an actual amount and the budgeted amount 4. The difference arising because the company actually earned more or less revenue, or incurred more or...
Actual Results Flexible Budget Variance Flexible Budget Sales Activity Variance Master Budget Units 13,000 ? 2,000...
Actual Results Flexible Budget Variance Flexible Budget Sales Activity Variance Master Budget Units 13,000 ? 2,000 U ? Sales revenue ? 13,000 F ? ? ? Less: Variable mfg. costs $ 87,750 $ 91,000 ? $ 105,000 Variable mktg/adm.costs ? $ 3,250 U ? $ 4,000 F 30,000 Contribution margin $ 52,000 ? ? $ 6,000 U ? What is the master budget sales revenue?
Explain flexible budgeting. Why is the flexible budget prepared? What quantity should be used for the...
Explain flexible budgeting. Why is the flexible budget prepared? What quantity should be used for the flexible budget?
EPPUPILLUS ELLU VEELUILDILE EVALULIO. Define the following terms: static budget, flexible budget. Describe the appropriate use of a "before-the-fact" and an "after-the-fact" flexible budget. Why must mixed costs be broken down into the fixed and variable components?
Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 11,000 travel locks for Gianni, Inc. B (Click the icon to view the report) (For variances with a $0 value, make sure to enter "O" in the appropriate cells.) i Data Table Gianni, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2018 Actual Flexible Budget Results Variance Units 11,000L Sales Revenue S 209,000 Variable Costs 51,900 Contribution...
Match each form to the correct definition Terms a. Flexible budget b. Flexible budget variance c. Sales volume variance d Static budget e. Variance - Definitions 1. A summarized budget for several levels of volume that separates variable costs from foxed costs 2. A budget prepared for only one level of sales 3. The difference between an actual amount and the budgeted amount 4. The difference arising because the company actually earned more or less revenue, or incurred more or...
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