What is a flexible budget and how does it differ from a static planning budget?

Q: better system for performance analysis?

A: A flexible budgeting system is a type of budgeting which is based on various sales volumes and it…

Q: a standard

A: A budget usually refers to a department's or a company's projected revenue, costs, or expenses. A…

Q: Define flexible budget.

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Q: Why is budgeting process time consuming?

A: Budget -  Budget are a financial plant of the company prepared by the company every year and it will…

Q: What does the fixed overhead budget variance measure?

A: Given Information: Variance occurs when there is a difference between expectation and the actual…

Q: What are the two components of the static budget variance? How are they calculated?

A: Definition:   Static budget variance: The static budget variance is the difference between the…

Q: What can you tell me about variance, as it concerns fixed or variable budgets? What is favorable…

A: The question is related to Standard costing and Budgetory Comtrol. Variance may be defined as the…

Q: What is a self-imposed budget? What are the major advantages of self-imposed budgets? What caution…

A: Self-imposed budgets: It refers to the budgets in which personnel have responsibility over the…

Q: What are the benefits of making an operating budget?

A: Operating Budget: The operating budget is that budget which is prepared to plan all the operating…

Q: What are the three major objectives of budgeting? Under what circumstances would a static budget…

A: Budgeting is a planning measure by which Business Entity make plan for the expected revenues and…

Q: Explain the term flexible budget variance.

A: Flexible Budget: It is a type of budget that changes based on the volume of business activity.…

Q: What assumption is implicitly made about cost behavior when actual results are directly compared to…

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Q: What is the difference between an imposed budget and a participatory budget? Define and explain a…

A: Introduction A budget is a financial statement that the management develops to evaluate the…

Q: How are budget variances calculated and used as performance measures? Provide numerical example?

A: budget is the predefined calculations that provide the plan of using the resources and generating…

Q: Describe scenarios/situations when it is appropriate and when it is not appropriate to use a static…

A: Static budget is also called fixed budget. Static budget does not change with the change in the…

Q: What is a flexible budget? Explain how a flexible budgetincreases the usefulness of budgeting as a…

A: A flexible budget is a budget that can be easily adjusted to reflect the changes in the volume of…

Q: uses and advantages of budget?

A: The budget represents the estimation of the expenses to be incurred and revenue to be earned by the…

Q: Brief description of flexible budgeting

A: A flexible budget is a budget that perceives the distinction in conduct among fixed and variable…

Q: Define the term flexible budget.

A: Flexible Budgets:   Flexible budgets are prepared for various levels of activities or outputs. This…

Q: What are the relations among standard costs, flexible budgets, variance analysis, and management by…

A: Budgetary control focus on profits maximization of the enterprise and to accomplish this purpose,…

Q: What is a static planning budget?

A: Budget:   It is a statement of revenues and expenditures to be incurred by the company for a…

Q: What is the advantage of using a flexible budget?

A: Budget is prepared at the start of the year so as to estimate the cost of producing any product that…

Q: Compare and contrast a flexible budget and a static budget

A: Budgeting is one of the essential tool that helps to plan an organisation to plan its costs…

Q: Define static budget.

A: Budget is a estimation of revenue and expenses for a future period of time

Q: What are the various kind of budgeting and critically compare the fixed and variable budgeting and…

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: What is a fixed budget

A: Budget: A budget is a forecast of revenue and expenses for a specific future period of time that is…

Q: What assumption is implicitly made about cost behavior when all of the items in a static planning…

A: Static Budget:   A budget that doesn’t changes with the volume of activity throughout the period is…

Q: What are the relations among standard costs, flexible budgets, variance analysis and managment by…

A: Because actual costs cannot be predicted in advance, standard costs are estimations of actual costs…

Q: Describe how non output-based cost drivers can be incorporated into budgeting.

A: Budgeting: The budgeting is a process of preparing budgets and the evaluation of it to see whether…

Q: What is captial budgeting? Why a separate capital budget is needed?

A: The term capital budgeting comprises of two words, "Capital" means the funds needs for the…

Q: Define rolling budget. Give an example.

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Q: static budget vs flexible budget

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Q: What is an operating budget?

A:

Q: What is the difference among a master budget, pro forma budgets, and a flexible budget?

A: A budget is a financial plan that is prepared by all organizations for a particular period. The…

Q: The flexible budget will report for fixed costs.

A: Solution Concept Flexible budget is a budget in which the variable cost is adjusted on the basis of…

Q: Compare how alternative budget time frames can be used.

A: A budget is a quantitative plan for acquisition and use of resources in a business over a specified…

Q: what is meant by a “limiting budget factor”

A: Solution: Limiting budget factor is a constraint that prevents expanding the budget when prepared.

Q: Difference between flexible budget and static budget.

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Q: What is Zero-based Budget?  What is static and Flexible Budgets?

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Q: Explain how to calculate static budget variance.

A: Static budget: Static budget is a master budget that is prepared for only one level of sales…

Q: Distinguish between static and flexible budgets.

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: Can you explain what a rolling budget is?

A: Budget:   A budget is a statement of expected revenues and expenditures of the business for a…

Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.