In essence, the terms "master budget" and "operating budget" mean the same thing and can be used
Variances are the difference between actual results and budgeted results.
The difference between ope
PERFORMANCE EVALUATION USING VARIANCES
FROM STANDARD COSTS
1. Standard costs assist management in controlling costs and in motivating employees
to focus on costs.
2. Management can use standards to assist
in achieving control over c
E1-15 Classify items as assets, liabilities, and stockholders' equity, and prepare accounting equation
Suppose the following items were taken from the balance sheet of Nike, Inc. (All items are in millions.)
CAPITAL INVESTMENT ANALYSIS
1. The principal objections to the use of the
average rate of return method are its failure
to consider the expected cash flows from the
proposals and the timing of these flows.
2. The principal limitatio
COST BEHAVIOR AND
1. Total variable costs vary in direct proportion
to changes in the level of activity. Unit variable costs remain the same with changes
in the level of activity.
2. a. Variable costs
Managerial Practice Questions 2 of 2
11. Rob currently works as the fry guy at Burger Haven. He is thinking about quitting this job to attend college
full time next semester. Which of the following would be considered an opportunity cost of attending coll