Chapter 8-Student - “Flexed” to accommodate actual...

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CHAPTER 8 Class Notes Flexible Budgets and Performance Analysis Compiled by: Lei Wang, CPA Certain materials used with permission of J. Fergusson or McGraw-Hill, Inc. In this chapter we will see how budgets can be adjusted so that we can made meaningful comparisons to actual costs. Static versus Flexible Budgets Static Budget : Used for __________________ purposes. Prepared at the ________________ of a budgeting period Geared to only ___________ level of activity—the budgeted level of activity. Budgets prepared in Chapter 7 were “static”. Flexible Budget : Used for ___________________ purposes. Prepared at the _____________ of the period.
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Unformatted text preview: “Flexed” to accommodate actual level of production. ACCT 226 – Chapter 8 Page 2 of 2 Spring 2010 – Student Version Activity Variances Differences between ______________________ amounts and __________________________ amounts are activity variances. Revenue and Spending Variances Differences between _______________________ revenue and ______________ revenue is a _______________ variance. Differences between _______________________ cost and ______________ cost is a __________________ variance. In-Class Exercise Brief Exercises 8-1, 8-2, 8-3 Problem 8-19...
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