Static and flexible budgets are similar in that:Multiple ChoiceThey both are based on the same per unit variable amounts and the same fixed costsThey both concentrate solely on costs.They both are prepared for multiple activity levels.None of these answers is correct.

Both Static and Flexible budgets are prepared on the basis of per unit variable amount and same…

Answered: Static and flexible budgets are similar…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

1. Volume variance exists only under Group of answer choices a. Throughput costing b. Variable costing c. Full costing d. Direct costing
new New techniques are often described as contributing to cost reduction, but when cost reduction is necessary it is not obvious that such new approaches are used in preference to more established approaches. Three examples are: established technique compared approach with (a) benchmarking interfirm comparison, (b) activity based budgeting zero base budgeting, (c) target costing continuous cost improvement. you are required for two of the three newer techniques mentioned above; to explan its objectives to explain its workings to differentiate its from the related approach identified to explain how it would contribute to a cost reduction programme.
Break-even analysis assumes over the relevant range that Group of answer choices total variable costs are linear. fixed costs per unit are constant. total variable costs are nonlinear. total revenue is nonlinear.
What are the different benefits of rolling budget?
Why do we need to use several rates in order to accommodate the different costs and revenues?
All of the following can be used to achieve low costs EXCEPT: Availability of low-cost resources Economies of scale Economies of experience Cost innovation All of the above can be used to achieve low costs.
The margin of safety can be defined as the excess of budgeted sales over: break-even sales. net income. fixed costs. variable costs.Question
Which of the following is the difference between variable costs and fixed costs? (CMA adapted) Multiple Choice Variable costs per unit are fixed and fixed costs per unit are variable, over the relevant range. Variable costs per unit fluctuate and fixed costs per unit remain constant. Total variable costs are variable over the relevant range and fixed in the long term, while fixed costs never change. Variable costs per unit change in varying increments, while fixed costs per unit change in equal units.
Explain why the standard costing system may have limited benefit in times of rapid change and uncertainty such as the recent past with major supply chain and price variations occurring constantly

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Static and flexible budgets are similar in that: Multiple Choice They both are based on the same per unit variable amounts and the same fixed costs They both concentrate solely on costs. They both are prepared for multiple activity levels. None of these answers is correct.