how can a flexible budget help managers control costs, Financial Accounting

Assignment Help:

1.  How can a flexible budget help managers control costs?

A flexible budget can help managers control costs by showing favorable and unfavorable variances within the planning of the budget.

2. What is an unfavorable variance?  How does it relate to overall profit?

Unfavorable variances generally occur when actual cost exceeds standard cost.  This often alerts managers that profits will be less than expected.

 

 


Related Discussions:- how can a flexible budget help managers control costs

Prepare income statement for 2011, The Wanless Corporation provides Interne...

The Wanless Corporation provides Internet consulting services to a wide-range of customers. The company's fiscal year ends on December 31. For the year ended December 31, 2011, the

Dispute resolution over termination of contracts, Question: a) Show the...

Question: a) Show the different parts of a bidding document for works. b) Describe  five advantages of Dispute Resolution over Termination of Contracts. c) Show the diffe

The company computes income using cash-basis accounting, A lawn care compan...

A lawn care company started business on January 1, 2012. The company billed clients $105,000 for lawn care services completed in 2012. By December 31, the company had received $84,

What is permanent negotiating machinery, Q. What is Permanent Negotiating M...

Q. What is Permanent Negotiating Machinery? Two Federation of Union All Indian Railway men's federation (AIRF) & National Federation of Indian Railway (NFIR) men have been reco

Operating segments, Vincent Ltd operates solely in Western Australia and th...

Vincent Ltd operates solely in Western Australia and the chief operating decision maker has identified five operating segments: Mining, Insurance, Retailing, Manufacturing and Tran

State accounting, discuss the importance of state accounting to an effectiv...

discuss the importance of state accounting to an effective fiscal administration

Format for balance sheet, FORMAT FOR BALANCE SHEET The non current asse...

FORMAT FOR BALANCE SHEET The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship.  However, the “capital sect

#accounting concepts, #what are the limitations or disadvantages of account...

#what are the limitations or disadvantages of accounting concept?

Prepate a flexible budget for production, with the following data for a 60 ...

with the following data for a 60 percent activity, prepare a flexible budget for production at 80 percent and 100 percent activity production at 60% activity - 6000 units

What are the advantage of limited liability, What are the Advantage of limi...

What are the Advantage of limited liability Advantage of limited liability, though, imposes certain obligations on such companies. To start up a limited company, documents of i

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd