Web Chapter 24 - Flexible Budgets and Standard Costs...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Flexible Budgets and  Flexible Budgets and  Standard Costs Standard Costs Chapter 24 Chapter 24
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Management uses budgets to monitor and control operations. Develop the budget from planned objectives. Compare actual with budget and analyze any differences. Take corrective and strategic actions. Revise objectives and prepare a new budget. Budgetary Control and  Budgetary Control and  Reporting Reporting
Background image of page 2
Optel Fixed Budget Performance Report For the Month Ended January 31, 2008 Fixed Actual Budget Results Variances Sales: In units 10,000 12,000 In dollars 100,000 $ 125,000 $ 25,000 $ F Cost of goods sold 49,000 $ 58,100 $ 9,100 $ U Selling expenses 13,000 15,100 2,100 U Gen. & admin. expenses 26,000 26,400 400 U Total expenses 88,000 $ 99,600 $ 11,600 $ U Income from operations 12,000 $ 25,400 $ 13,400 $ F Fixed Budget Performance  Fixed Budget Performance  Report Report
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Optel Flexible Budgets For the Month Ended January 31, 2008 Budget Budget Budget Variable
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 7

Web Chapter 24 - Flexible Budgets and Standard Costs...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online