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Prepare a purchases budget in pounds for July, August, and September, and give total purchases in both pounds and dollars for each month.
You are in a job interview and your possible employer asks you to describe the differences between the flexible and the static budget
Question: Prepare a revised operating budget for the fourth quarter for TBA that Dick Howell can present to corporate management.
Calculate Byrd's sales price variance for 2009. Is the variance favorable or unfavorable?
Prepare a flexible budget performance report showing both the activity variances and the spending variances for each of the expenses and for total expenses.
Prepare an operating budget for the next four quarters of operation for the director and summarize it (provide totals) for the full year.
Construct a flexible budget performance report that would be useful in assessing how well costs were controlled in this department.
Discuss budgeting techniques. Is a top down or bottom up approach preferred and why?
Prepare the following budgets for March 2009: a. Revenues budget b. Production budget in units
Operating expenses are best budgeted on the basis of knowledge about:
Compare bottom-line financial results of using a fixed budget and a flexible budget if volumes (a) increase by 10% or (b) decrease by 10%.
What percentage of gross domestic product does spending for federal programs represent?
More specifically, it asks for calculations of direct material price variance, direct material efficiency/usage variance
Your company uses a standard costing system. At the beginning of the month, you budget to produce and sell 100 items.
1: Determine the 20X9 static budget variances. 2: Determine the 20X9 flexible budget variances.
Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U).
Explain the relationships between fixed and variable costs used in a flexible budget and the differences between static and flexible budgets?
What additional information would you need before implementing an intervention plan?
Create a Start up Budget and first 6 months operating expenses for your new Business using MS Excel.
How might a manager gain insight into the causes of a flexible-budget variance for direct materials?
Create and format a row, beneath the month row, to show yearly income for each month (Jan-Dec),and properly label the row and value.
What are the profit, revenue, and cost variances based on the simple budget?
What do you see as the distinction between costs and expenses?
Calculate the increase or decrease in net operating income. (Input the amount as a positive value. Omit the "$" sign in your response.)
What is the difference between a flexible and static budget? When should a company employ one of these specific types of budget?