The difference between actual revenues and expenses and the flexible budget is known as the: A....
The difference between actual revenues and expenses and the flexible budget is known as the:
A.
flexible budget variance
B.
static budget variance
C.
master budget variance
D.
volume variance
Homework Answers
| Option A is the answer | |
|
Flexible budget variance = Actual revenues and expenses - Flexible revenues and expenses Hence option A is the answer Comment if you face any issues |
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The difference between actual revenues and expenses and the
flexible budget is known as the:
A....
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.
10. The difference between a Master Budget and a Flexible Budget is a. Master Budgets are...
10. The difference between a Master Budget and a Flexible Budget is a. Master Budgets are always more important. b. Flexible Budgets are restated to actual results. c. Master Budgets are created on actual results. d. Flexible Budgets are adapted to marketing changes. e. there is no difference if they are for the same period.
The difference between operating income on a flexible budget and actual operating income is called the:...
The difference between operating income on a flexible budget and actual operating income is called the: standard variance. efficiency variance. sales price variance flexible budget variance.
A budget that is based on the actual activity of a period is known as a...
A budget that is based on the actual activity of a period is known as a continuous budget flexible budget static budget master 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...
Nanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30...
Nanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget Flexible Volume Actual variance Budget Variance Master Budget Output units 28,000 30,500 $ 252,000 $ Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income 5,600 F 204,400 189,100 16,500 21,000
3. ABC Company has the master/static budget and actual of operating result (2015) as shown beloW. ABC Company Operating Results For year 2015 Master Budget 20,000 1,000,000 500,000 Actual Varianc...
3. ABC Company has the master/static budget and actual of operating result (2015) as shown beloW. ABC Company Operating Results For year 2015 Master Budget 20,000 1,000,000 500,000 Actual Variance Units sold Revenue Variable cost Variable production overhead 15,000 742,500 390,000 160,000500 32,500 F 225,000 5,000 U 257,500 U 110,000 F 115,000 U 5,000 F 110,000 U Contribution margin Fixed production overhead Operating income 340,000 150,000 190,000 45,000 80,000 3.1 Prepare a flexible budget for ABC Company for vear 2015...
A budget that is based on the actual activity of a period is known as a:
19) A budget that is based on the actual activity of a period is known as a: A) continuous budget. B) flexible budget. C) static budget. D) master budget. 20) Sathre Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes.When the company prepared its planning budget at the beginning of December, it assumed that 34 wells would have been serviced....
a) Prepare actual, static and flexible budget income statements for December. b) What is the flexible...
a) Prepare actual, static and flexible budget income statements
for December.
b) What is the flexible budget variance and volume variance for
total COGM and indicate if it is favorable or unfavorable?
c) To further investigate the flexible budget variance, Merry
Inc. found that the budgeted direct labor rate was $54 per hour and
expected production rate was 10 trees per hour. Actual direct labor
rate was $70 per hour and actual production rate was 12 trees per
hour. Compute...
Question 17 )The sales volume variance is the differernc between the ? A) Actual results and...
Question 17 )The sales volume variance is the differernc between the ? A) Actual results and the expected results in the flexible budget for the actual units sold B)Expected results in the flexible budget for the actual units sold and the static budget c)Static budget and actual amounts due to differences in sales price d)flexible budget and static budget due to differences in fixed costs
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...
Nanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget Flexible Volume Actual variance Budget Variance Master Budget Output units 28,000 30,500 $ 252,000 $ Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income 5,600 F 204,400 189,100 16,500 21,000
3. ABC Company has the master/static budget and actual of operating result (2015) as shown beloW. ABC Company Operating Results For year 2015 Master Budget 20,000 1,000,000 500,000 Actual Variance Units sold Revenue Variable cost Variable production overhead 15,000 742,500 390,000 160,000500 32,500 F 225,000 5,000 U 257,500 U 110,000 F 115,000 U 5,000 F 110,000 U Contribution margin Fixed production overhead Operating income 340,000 150,000 190,000 45,000 80,000 3.1 Prepare a flexible budget for ABC Company for vear 2015...
a) Prepare actual, static and flexible budget income statements
for December.
b) What is the flexible budget variance and volume variance for
total COGM and indicate if it is favorable or unfavorable?
c) To further investigate the flexible budget variance, Merry
Inc. found that the budgeted direct labor rate was $54 per hour and
expected production rate was 10 trees per hour. Actual direct labor
rate was $70 per hour and actual production rate was 12 trees per
hour. Compute...
Question 17 )The sales volume variance is the differernc between the ? A) Actual results and the expected results in the flexible budget for the actual units sold B)Expected results in the flexible budget for the actual units sold and the static budget c)Static budget and actual amounts due to differences in sales price d)flexible budget and static budget due to differences in fixed costs
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