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The flexible budget uses the master budget as its basis. To develop the flexible budget, management should take the following steps. 1. Identify the activity index and the relevant range of activity. 2. Identify the variable costs, and determine the budgeted variable cost per unit of activity for each cost. 3. Identify the fixed costs, and determine the budgeted amount for each cost. 4. Prepare the budget for selected increments of activity within the relevant range.
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The main difference a flexible budget and a static budget is that a flexible budget does not contain fixed costs true or false?
true
What is flexible budget?
Fixed or Static buget is for a particular activity level. Flexible budget is for a range of activity level. Differentiate between Fixed and Flexible budget ? Needs a complete answer.
What is the difference between a fixed budget and a flexible budget?
is a plan for a single level of production, whereas a flexible budget can be converted to any level of production.
What is the difference between a rolling budget and a flexible budget?
Here are the differences between the two: Flexible Budget-A flexible budget is a budget that adjusts or flexes for changes in the volume of activity. The flexible budget is more sophisticated and useful than a static budget, which remains at one amount regardless of the volume of activity. Rolling Budget-Method in which a budget established at the beginning of an accounting period is continually amended to reflect variances that arise due to changing circumstances. Hope this helps!
Explain how a activity based flexible budget differs from a conventional flexible budget?
there are some difference among activity based flexible budget and conventional fllexible budget, the main differ is number of cost driver that use to allocat OHC, so my dissertation about this subject
Is Static planning budget and flexible budget or Flexible budget and actual results comparisons that best isolates the impact that changes in prices of inputs and outputs have on performance?
flexible budget and actual results
The main difference a flexible budget and a static budget is that a flexible budget does not contain fixed costs true or false?
true
What is flexible budget?
Fixed or Static buget is for a particular activity level. Flexible budget is for a range of activity level. Differentiate between Fixed and Flexible budget ? Needs a complete answer.
What is the difference between a fixed budget and a flexible budget?
is a plan for a single level of production, whereas a flexible budget can be converted to any level of production.
What is the difference between a rolling budget and a flexible budget?
Here are the differences between the two: Flexible Budget-A flexible budget is a budget that adjusts or flexes for changes in the volume of activity. The flexible budget is more sophisticated and useful than a static budget, which remains at one amount regardless of the volume of activity. Rolling Budget-Method in which a budget established at the beginning of an accounting period is continually amended to reflect variances that arise due to changing circumstances. Hope this helps!
How is a budget made in steps?
Figure out your income,List your expenses,Categorize your expenses,Determine if expenses are below income, and Reduce expenses in flexible categoris if nessecary.
Definition of flexible cash budget?
By definition, a flexible cash budget is a cash budget with wiggle room, in lay terms. It can be adjusted or flexed with varying circumstances as they arise.
Explain how a activity based flexible budget differs from a conventional flexible budget?
there are some difference among activity based flexible budget and conventional fllexible budget, the main differ is number of cost driver that use to allocat OHC, so my dissertation about this subject
Explain how a fixed cash budget differs from a variable or flexible cash budget?
fixed budget is prepared at the start of the period and flexible budget is prepared at the end of period it is adjusted from current activity level of company...
What variance is the difference between the actual sales and the flexible budget sales?
Actual sales (quantity ) = flexible budget sales (quantity ) , because the flexible budget is prepared based on the actual activity level (units sold ) to avoid misleading of compering the static budget sales and actual sales
What are 8 Steps in developing effective communication?
8 steps in developing effective communication
Flexible budget against static budget?
abudget based on a single level of output
