
Concept explainers
Concept Introduction:
Budgets:
A budget is prepared to know the estimates related to a particular item. There can be
Flexible budgets:
A flexible budget can be defined as the budget which changes with the level of output or the level of activity. The sales revenue or sales unit changes and accordingly, the costs related to the level of activity changed is changed.
Requirement 1
To complete:
The performance report – The flexible budget performance report i.e. to find the missing values.
Requirement 2
To Identity:
The employee group that may deserve a praise and the group that may be subject to criticism

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Chapter 23 Solutions
ACCOUNTING PRINCIPLES 222 5/16 >C<
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