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Core 1 > Week 2 IC Core 2 > Flashcards

Week 2 IC Core 2 Flashcards

1
Q

Variance Analysis

A

Compare budgeted or static amount - process of comparing actual performance against a budget or other relevant benchmark to investigate significant differences

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2
Q

Static Budget

A

compare actual results to planned/budgeted result

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3
Q

Flexible Budget

A

restate the original budget using the actual volume of product that occurred against the budgeted variable,fixed cost/sales

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4
Q

Sales Variance

A

didn’t have sales flexible budget variance since selling prices are fixed by BCDLB

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