Topic 6 - Introduction to Control Flashcards
1
Q
Flexible budgets
A
Recognise different cost behaviours patterns and is designed to change as volume of activity changes
2
Q
Flexed budget
A
based on actual volume of units that were achieved
3
Q
Standard costing
A
Budgeted usage of resources and budgeted price per unit of resource
Use only the budgeted values to find standard costing but to find the actual variances use only flexed budget values
