Managerial Accounting (15th Edition)

Published by McGraw-Hill Education
ISBN 10: 007802563X
ISBN 13: 978-0-07802-563-1

Chapter 9 - Flexible Budgets and Performance Analysis - Questions - Page 410: 9-2

Answer

Flexible budget is a report showing estimates of what revenues and costs should have been, given the actual level of activity for the period. A static planning budget is prepared for only a single level of activity and is not subsequently adjusted.

Work Step by Step

Flexible budget is a report showing estimates of what revenues and costs should have been, given the actual level of activity for the period. A static planning budget is prepared for only a single level of activity and is not subsequently adjusted.
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