when a simple budget is recast to reflect the actual volume of patients treated , leaving...
Homework Answers
True.
Flexible budget is budget that allows us to adjust the budget to actual volume or actual activity. This is more realistic to compare with actuals compared to that of static budget.
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when a simple budget is recast to reflect the actual volume of
patients treated , leaving...
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.
The method of adjusting the budget to reflect the actual volume of sales is called
The method of adjusting the budget to reflect the actual volume of sales is called
In a flexible budget, what is adjusted to reflect actual performance? a.variable costs b. revnues c....
In a flexible budget, what is adjusted to reflect actual performance? a.variable costs b. revnues c. fixed costs d. all of these e. only b and c
A static budget is one that Is based on the actual sales volume achieved during the...
A static budget is one that Is based on the actual sales volume achieved during the period. Is developed for a single level of expected output. Is one component of the operating budget. Is always used to compare with the actual results. Materiality can be measured in terms of Absolute dollars. Relative percentages. Both absolute dollars and relative percentages. Neither absolute dollars or relative percentages. The flexible budget variance is the difference between The static budget and the flexible budget....
Unfavorable flexible budget variances are those that are the result of lower than expected sales volume....
Unfavorable flexible budget variances are those that are the result of lower than expected sales volume. True or False
Master Master Budget Variance Actual 60,500 Budget 57,000 Sales volume (number of cases sold) Sales revenue...
Master Master Budget Variance Actual 60,500 Budget 57,000 Sales volume (number of cases sold) Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses $ 193,700 $ 71,200 176,700 62,700 $ 122,500 $ 73,200 114,000 72,000 $ 49,300 $ 42,000 Operating income The budgeted sales price per unit is $ 3.10 Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ 1.10. Requirement 3. What is the budgeted fixed cost for the...
question 1: what information stands out when we compare our flexible budget to our actual budget?...
question 1: what information stands out when we compare our
flexible budget to our actual budget?
ACCT8090 F19 Budget Quiz - Section 2 [Protected View] - Microsoft Excel (Product Activation Failed) X File Home Insert Page Layout Formulas Data Review View Enable Editing Protected View This file originated from an Internet location and might be unsafe. Click for more details. fox АЗ C F G Н M N O P Q R Complete a FLEXIBLE BUDGET to reflect the actual...
True or False 1.Actual sales rarely match budgeted sales in the master budget. 2.Standard costs are...
True or False 1.Actual sales rarely match budgeted sales in the master budget. 2.Standard costs are used to establish the flexible budget for direct labor. 3.The cause of one variance might influence another variance. 4.Management by exception is a term used to describe managers who look at all variances, regardless of the amount. 5.Favorable variances are recorded with a credit to the appropriate variance account.
17. When computing variances, the difference between standard price multiplied by actual quantity yields a(n): A....
17. When computing variances, the difference between standard price multiplied by actual quantity yields a(n): A. flexible budget B. planning budget C. actual results D. all of these E. none of these 18. When computing standard cost variances, the difference between actual and standard prices yields a(n): A. actual results B. volume variance C. price variance D. quantity variance E. none of these
ALL TRUE OR FALSE QUESTIONS: A) Differences between the static planning budget and the flexible budget...
ALL TRUE OR FALSE QUESTIONS: A) Differences between the static planning budget and the flexible budget show what should have happened because the actual level of activity differed from what had been planned. B) Fixed costs should not be included in a flexible budget because they do not change when the level of activity changes. C) An activity variance is the difference between an actual revenue or cost and the revenue or cost in the flexible budget that is adjusted...
Master Master Budget Variance Actual 60,500 Budget 57,000 Sales volume (number of cases sold) Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses $ 193,700 $ 71,200 176,700 62,700 $ 122,500 $ 73,200 114,000 72,000 $ 49,300 $ 42,000 Operating income The budgeted sales price per unit is $ 3.10 Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ 1.10. Requirement 3. What is the budgeted fixed cost for the...
question 1: what information stands out when we compare our
flexible budget to our actual budget?
ACCT8090 F19 Budget Quiz - Section 2 [Protected View] - Microsoft Excel (Product Activation Failed) X File Home Insert Page Layout Formulas Data Review View Enable Editing Protected View This file originated from an Internet location and might be unsafe. Click for more details. fox АЗ C F G Н M N O P Q R Complete a FLEXIBLE BUDGET to reflect the actual...
17. When computing variances, the difference between standard price multiplied by actual quantity yields a(n): A. flexible budget B. planning budget C. actual results D. all of these E. none of these 18. When computing standard cost variances, the difference between actual and standard prices yields a(n): A. actual results B. volume variance C. price variance D. quantity variance E. none of these
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