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
Homework Answers
Master budget is prepared before the budget period is started therefore it is prepared before the actual activity. Flexible budget is prepared after the master budget is prepared and it is prepared after the period is ended which considers the actual activity of the period as it takes into consideration the actual activity of the budget period.
Therefore the correct option is 2nd
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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:
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....
27. Comparing actual results to a budget based on the actual activity for the period is...
27. Comparing actual results to a budget based on the actual activity for the period is possible with use of a a monthly budget b. master budget c. flexible budget d. rolling budget
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
Hoppy Corporation compares a monthly flexible budget based on actual operating results to a static planning...
Hoppy Corporation compares a monthly flexible budget based on actual operating results to a static planning budget prepared at the beginning of the month. When the actual level of activity is higher than expected, which of the following would typically be expected? Variable costs would show unfavorable variances O Varíable costs would show favorable variances O Fixed costs would show favorable varlances Fixed costs would show unfavorable variances. None of the above. Cosden Corporation is an oil well service company...
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?
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 actual sales revenue?
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....
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?
What budget comparison best isolates the impact in activity changes ( static/planning, flexible, and actual results
What budget comparison best isolates the impact in activity changes ( static/planning, flexible, and actual results
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.
27. Comparing actual results to a budget based on the actual activity for the period is possible with use of a a monthly budget b. master budget c. flexible budget d. rolling budget
Hoppy Corporation compares a monthly flexible budget based on actual operating results to a static planning budget prepared at the beginning of the month. When the actual level of activity is higher than expected, which of the following would typically be expected? Variable costs would show unfavorable variances O Varíable costs would show favorable variances O Fixed costs would show favorable varlances Fixed costs would show unfavorable variances. None of the above. Cosden Corporation is an oil well service company...
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