Final Exam Flashcards
0
Q
What is a static budget?
A
?
1
Q
What is budgetary control? What are its elements?
A
?
2
Q
What is a flexible budget?
A
?
3
Q
What is responsibility accounting?
A
.
4
Q
What cost can top management control?
A
Variable costs?
5
Q
What is profit center?
A
?
6
Q
What is controllable margin?
A
?
7
Q
What is a standard cost?
A
?
8
Q
What is the difference btw a budget and a standard?
A
?
9
Q
What is a normal standard?
A
?
10
Q
What is an ideal standard?
A
?
11
Q
What gets included in a labor quantity standard?
A
?
12
Q
What is an allowance for spoilage? What standard is part of it?
A
?
13
Q
When would a favorable or unfavorable variance occur?
A
?
14
Q
What is the total overhead variance?
A
?
