Chap12&13QuizBUS4113

Chap12&13QuizBUS4113 - Amberton University BUS 4113...

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Amberton University BUS 4113 – Accounting and Finance for Managers Name: Chapter 12 1. What is "task analysis" and how is it used in the context of variance analysis? Task analysis examines the production process in detail with an emphasis on determining what it should cost to produce a product. Managers use task analysis in to calculate the standards costs of a product in order to make variance analysis. 2. What is the difference between a static and a flexible budget? Which one is most often used in variance analysis and why? A static budget is prepared at the beginning of the period. Costs and budgeted revenues are based on what production and sales are expected to be. A flexible budget on the contrary is prepared at the end of the period. Costs and budgeted revenue in this case are based on the actual number of units produced and sold. A flexible budget is most often used in variance analysis as it compares budgeted revenues and cost with actual revenues and cost at the same level. 3.
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This note was uploaded on 02/03/2011 for the course BUS 3101 taught by Professor Loyd during the Spring '09 term at Dallas.

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Chap12&13QuizBUS4113 - Amberton University BUS 4113...

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