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How is the flexible budget information used to evaluate performance?
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
How is the flexible budget report information used to evaluate performance?
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
What are the examples of direct labor?
management cost that involved budgeting and planning
What exists when budgeting cost exceeds actual results?
A favorable difference.
Should financing cost be included as an incremental cash flow in capital budgeting analysis?
Incremental Cash flows are included in capital budgeting decision and if capital budgeting decisions require acquisition of money from open market then its financial cost is also relevant for decision making and it is also included in it.
Budgeting is the one of the main tool to control the cost?
4. "Budgeting is the one of the main tool to control the cost" - Give your view.
How is the flexible budget information used to evaluate performance?
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
How is the flexible budget report information used to evaluate performance?
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
What has the author Brent D Bradley written?
Brent D. Bradley has written: 'Some views on program budgeting' -- subject(s): Program budgeting 'Building a new force structure cost analysis model' -- subject(s): Mathematical models, Cost control, Military planning
What has the author William Edgar Thomas written?
William Edgar Thomas has written: 'Readings in cost accounting, budgeting, and control' -- subject(s): Controllership, Budget in business, Cost accounting
What are the significance of cost of capital?
capital budgeting decisions
What has the author J D McCullough written?
J. D. McCullough has written: 'Cost analysis for planning, programming, budgeting cost-benefit studies' -- subject(s): Program budgeting
Differences between fixed variable budgets?
Variable budgeting is one based on different levels of activity. It is an extremely useful tool for comparing the actual cost incurred to the cost allowable for the activity level achieved. It is dynamic in nature rather than static. By using the cost-volume formula (or flexible budget formula), a series of budgets can be developed easily for various levels of activity. A static (FIXED) budget is geared for only one level of activity and has problems in cost control. Flexible budgeting distinguishes between fixed and variable costs, thus allowing for a budget that can be automatically adjusted (via changes in variable cost totals) to the particular level of activity actually attained. Thus variances between actual costs and budgeted costs are adjusted for volume ups and downs before differences due to price and quantity factors are computed. The primary use of the flexible budget is for accurate measure of performance by comparing actual costs for a given output with the budgeted costs for the same level of output.
What information is found on a flexible budget report?
Flexible budget reports are another type of internal report. The flexible budget report consists of two sections: (1) production data for a selected activity index, such as direct labor hours, and (2) cost data for variable and fixed costs. The report provides a basis for evaluating a manager's performance in two areas: production control and cost control. Flexible budget reports are widely used in production and service departments.
What are the examples of direct labor?
management cost that involved budgeting and planning
What exists when budgeting cost exceeds actual results?
A favorable difference.
Difference between budgeting and forecasting in cost accounts?
Budgeted cost compares with actual cost and then we try to reduce if cost is more than budgeted cost Forcasting is just estimation of future cost . They may use or not . These forecasted cost is just direction for future cost but practically only budgeting concept is more relevant regarding cost accounts .
