Flexible budgets have the characteristics of what? Answer:Flexible budgets have the characteristic ofa) Being prepared only annuallyb) Never being changedc) Adjusting for volume changesd) Ignoring fixed costs

Step 1:Flexible budget:It is a budget that adjusts for volume changes. It separates variable costs…

Answered: Answer: Flexible budgets have the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 18MC: What is the main difference between static and flexible budgets? The fixed manufacturing overhead is...

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Similar questions

In a flexible budget, what will happen to fixed costs as the activity level increases? Multiple Choice The fixed cost per unit will decrease. The fixed cost per unit will increase. Fixed costs are not included in a flexible budget.
Explain zero-based budgeting and how it differs from the traditional approach to preparing next years budget.
This is the length of time it takes to initiate and complete a finished product. O a. Fiscal year O b. Accounting year c. Production cycle Od. Short-term QUESTION 21 Costs that remain constant even with changes in production level. O a. Variable costs O b. Start-up costs O c. Semi-variable costs O d. Fixed costs QUESTION 22 The challenge of budgeting is to determine what will change and what will stay the same. O True False QUESTION 23 The numbers on tax returns (cash basis) are the same as the number we use to manage a department (accrual basis). O True O False QUESTION 24 A pattern of change over several time periods which can help us make estimates for the future is a. a gap. Ob. a fixed cost. Oc. a transformation. d. a trend.
Please correct me if I am wrong and give the reason thoroughly. When using a flexible budget, a decrease in activity within the relevant range: A) decreases variable cost per unit. B) increases the variable cost per unit. C) decreases total costs. D) increases total costs. The correct answer is (C). My understanding that (within the relevant range) the variable cost is constant and Fixed cost is variable, which means it decreases if the level of activity decreased and vice versa when the level of activity increased. Therefore, the total cost decreases when the total activity within the range decreased.
A flexible budget depicted graphically O differs from a CVP graph in that sales revenue is not shown. differs from a CVP graph in the way that fixed costs are shown. O is identical to a CVP graph. O differs from a CVP graph in the way that variable costs are shown.
"Today, projct success is defined as" O A. Completing on time OB. Finishing under budget O C. Both A and B O D. None of the above
Give two reasons why most organizations use an annual period rather than a weekly or monthly period to compute budgeted indirect-cost rates.
250 words Define the term "flexible budgeting." Is that term a contradiction. Should a budget be "flexible" or "inflexible"?
When using a flexible budget, a decrease in activity within the relevant range: decreases variable cost per unit. increases variable cost per unit. decreases total costs. increases total costs.
Please explain fixed and flexible budgeting. Provide an example of budgeting for three consecutive periods in which safety margin is included for flexibility.
Activity flexible budgeting differs from traditional approaches by using more than ____________ drivers to predict costs.
Which of the following statements is true? I. The direct labor budget begins with the required production in units from the production budget. II. The direct labor budget shows the direct labor-hours required to satisfy the production budget. Multiple Choice О Neither statement is true. О Only statement II is true. О Only statement I is true. О Both statements are true.

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Answer: Flexible budgets have the characteristic of a) Being prepared only annually b) Never being changed c) Adjusting for volume changes d) Ignoring fixed costs