flexible budget
Q: Explain the term budgeted costs.
A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…
Q: Briefly explain “Self-Impose Budget or Participative” and “Master Budget”.
A: Here are given two terms. (1) Self imposed budget or participative budget (2) Master budget Lets…
Q: Define the term budgeting cycle.
A: Budget Cycle: The budget cycle refers to the whole time period starting from the creation of the…
Q: a collection budget
A: It is given in the question that 60% of the sales is collected within the month of sale and the…
Q: Define flexible budget.
A:
Q: Define the term operating budget.
A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…
Q: Explain the relationship between performance reports and flexible budgeting.
A:
Q: Explain the difference between static and flexible budgets.
A: Flexible Budgets: Flexible budgets are prepared for various levels of activities or outputs. This…
Q: flexible budget
A: Flexible budget is a budget that changes according to the level of sales volume. All variable…
Q: Describe budgeting process.
A: Budgeting is a process to prepare the financial statement by the manager to estimate the…
Q: Q.Describe the steps in developing a flexible budget.
A: Flexible Budget: A flexible budget is a financial plan prepared for a particular period of time on…
Q: Define master budget.
A:
Q: Explain the term flexible budget variance.
A: Flexible Budget: It is a type of budget that changes based on the volume of business activity.…
Q: Define operating budget
A: An operating budget comprises all things considered and costs over some stretch of time (regularly a…
Q: uses and advantage of budget
A: Budget is referred to as an estimation of the expenses as well as revenues of the individual or the…
Q: How to find the flexible budget
A: Flexible budget: A flexible budget is a budget that is prepared for different levels of output. In…
Q: What is a flexible budget and how does it differ from a static planning budget?
A: A flexible budget is a budget which can be adjusted to changes in volume or activity on which budget…
Q: Master budget
A: We know that budgeting is a predefined estimate made by the management for a future period. In…
Q: Identify the main purpose of a flexible budget for managers.
A: Flexible Budget: A flexible budget is a budget that is prepared for different levels of the output.…
Q: what are total budgeted costs
A: Budgets are the estimates or forecasts to be made for future period. Budgeted costs means forecasted…
Q: Describe the steps in developing a flexible budget.
A: Flexible Budget: Flexible budget is a financial plan prepared for a particular period of time on…
Q: Describe how nonoutput-based cost drivers can be incorporated into budgeting.
A: Budget: The budgeting is a process of preparing budgets and the evaluation of it to see whether the…
Q: Construct the direct labor budget
A: Budget is defined as the estimated statement prepared by the management in the beginning of the…
Q: Define direct material budget.
A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…
Q: Brief description of flexible budgeting
A: A flexible budget is a budget that perceives the distinction in conduct among fixed and variable…
Q: Define the term flexible budget.
A: Flexible Budgets: Flexible budgets are prepared for various levels of activities or outputs. This…
Q: Distinguish between a columnar and a formula flexible budget.
A: Definition: Flexible budget: A flexible budget is a budget that is prepared for different levels of…
Q: What is a static planning budget?
A: Budget: It is a statement of revenues and expenditures to be incurred by the company for a…
Q: Compare and contrast a flexible budget and a static budget
A: Budgeting is one of the essential tool that helps to plan an organisation to plan its costs…
Q: Define static budget.
A: Budget is a estimation of revenue and expenses for a future period of time
Q: Define the term sales budget.
A: A sales budget provides an estimate of the volume of goods and services that a company proposes to…
Q: What is a fixed budget
A: Budget: A budget is a forecast of revenue and expenses for a specific future period of time that is…
Q: Direct Labor Cost Budgets
A: Budget: budget is an estimate prepared by the company to know its future goals and actions required…
Q: IDENTIFY AND DISCUSS THE DIFFERENCES BETWEEN STATIC AND FLEXIBLE BUDGETS.
A: A budget is defined as a plan layout designed for a particular period. It involves planning costs…
Q: Sales Budget
A: Sales budget is an estimate of sales for a future period. Sales revenue is calculated by…
Q: Define rolling budget. Give an example.
A:
Q: Explain the relationship between a simple budget and a flexible budget.
A: Budgeting Budgeting is an important tool which are used for the management of the entity to evaluate…
Q: static budget vs flexible budget
A:
Q: Cash Budget
A: Cash budget is an estimate of cash flow for a particular future period.
Q: Compare how alternative budget time frames can be used.
A: A budget is a quantitative plan for acquisition and use of resources in a business over a specified…
Q: Difference between flexible budget and static budget.
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Q: benefits of flexible budgeting on sustainability.
A: Flexible budget refers to the budget which adjusts to the activity levels of the business and this…
Q: What is a flexible budget performance report?
A:
Q: Distinguish between static and flexible budgets.
A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…
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- es Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Budgeted diving-hours (q) Revenue ($470.00q) Puget Sound Divers Planning Budget For the Month Ended May 31 Expenses: Wages and salaries ($11,400 + $126.00g) Supplies ($3.00q) Equipment rental ($2,100 + $23.00q) Insurance ($4,000) Miscellaneous ($530+ $1.42q) Total expenses Net operating income Revenue Expenses During May, the company's actual activity was 390 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. Puget Sound Divers Flexible Budget For the Month Ended May 31 Wages and salaries Supplies Equipment rental Insurance Miscellaneous 400 $ 188,000 61,800 1,200 11,300 4,000 1,098 79,398 TEFAL $ 108,602Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Budgeted diving-hours (q) Revenue ($390.00q) Puget Sound Divers Planning Budget For the Month Ended May 31 Expenses: Wages and salaries ($12,000+ $130.00g) Revenue Expenses: Supplies ($4.00q) Equipment rental ($2,200 + $25.00g) Insurance ($4,000) Miscellaneous ($520+ $1.48q) Total expenses Net operating income During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. Miscellaneous Total expenses Puget Sound Divers Flexible Budget For the Month Ended May 31 Wages and salaries Supplies Equipment rental Insurance 350 $ 136,500 57,500 1,400 10,950 4,000 1,038 74,888 $ 61,612Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (g) Revenue (1440.000) Expenses: Wages and salaries ($11,300 $130.00g) Supplies ($5.00g) Revenue Expenses Equipment rental ($2,500+ $25.00g) Insurance (14,000) Miscellaneous ($510 $1.500) Total expenses Net operating income During May, the company's actual activity was 190 diving-hours. Required: Prepare a flexible budget for May Note: Round your answers to the nearest whole number. Puget Sound Divers Flexible Budget For the Month Ended May 31 Wages and salaries Supplies Equipment rental insurance Total expenses Net operating income 200 $ 88,000 0 37,300 1,000 7,500 4,000 810 50,610 $ 37,390
- Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($460.00q) Expenses: Wages and salaries ($11,200 +$126.00q) Supplies ($5.00q) Equipment rental ($2,400 + $20.00q) Insurance ($4,000) Miscellaneous ($540 + $1.50q) Total expenses Net operating income. 250 $ 115,000 42,700 1,250 7,400 4,000 915 56,265 $ 58,735 During May, the company's actual activity was 240 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number.Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (g) Revenue ($480.00g) Expensen: Wages and salaries ($11,500+ $128.00g) Supplies ($3.00g) Equipment rental ($2,300 $23.00g) Insurance ($3,800) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue. Expenses: Miscellaneous ($540+ $1.42g) Total expense Net operating income During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income. 350 $ 168,000 $ 56,300 1,050 10,350 0 0 3,800 1,037 72,537 $ 95,463Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Budgeted diving-hours (9) Revenue ($460.009) Puget Sound Divers Planning Budget For the Month Ended May 31 Revenue Expenses: Expenses: Wages and salaries ($11,100+ $124.009) Supplies ($4.009) Equipment rental ($2,000+ $21.009) Insurance ($4,100) Miscellaneous ($540+ $1.469) Total expenses Net operating income During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. Puget Sound Divers Flexible Budget For the Month Ended May 31 Wages and salaries Supplies Equipment rental Insurance Miscellaneous 350 $ 161,000 54,500 1,400 9,350 4,100 1,051 70,401 $ 90,599
- Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($365.00q) Expenses: Wages and salaries ($8,000 + $125.00q) Supplies ($3.00q) Equipment rental ($1,800 + $32.00g) Insurance ($3,400) Miscellaneous ($630+ $1.80q) Total expense Net operating income Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. 100 $ 36,500 Wages and salaries Supplies Equipment rental Insurance Miscellaneous 20,500 300 5,000 3,400 810 30,010 $ 6,490Puget Sound Divers provides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($480.009) Expenses: Wages and salaries ($11,500 + $122.009) Supplies ($5.009) Equipment rental ($2,400 + $22.009) Insurance ($4,100) Miscellaneous ($520 + $1.469) Total expenses Net operating income 300 $ 144,000 48,100 1,500 9,000 4,100 958 63,658 $ 80,342 During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expenses Net operating incomePuget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Budgeted diving-hours (g) Revenue ($365.00g) Puget Sound Divers Planning Budget For the Month Ended May 31 Expenses: Wages and salaries ($8,000+ $125.00g) Supplies ($3.00g) Equipment rental ($1,800+ $32.00g) Insurance ($3,400) Miscellaneous ($630+ $1.80g) Total expense Net operating income. Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours Revenue Expenses: During May, the company's actual activity was 105 diving-hours. Required: Prepare a flexible budget for May. Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income $ $ 105✔ 38,325 21,125 315✓ 5,250 x 3,400 819 100 $ 36,500 30,909 7,416 20,500 300 5,000 3,400 810 30,010 $ 6,490
- Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($430.00q) Expenses: Wages and salaries ($11,300 + $122.00g) Supplies ($5.00g) Equipment rental ($2,100 + $25.00q) Insurance ( $3,900) Miscellaneous ($520 + $1.46q) Total expense 200 $ 86,000 35,700 1,000 7,100 3,900 812 48,512 $ 37,488 Net operating income During May, the company's actual activity was 190 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole dollar.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating incomePuget Sound Divers pravides diving services, such as underwater ship repairs, to its clients. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($450.009) Expenses: Wages and salaries ($11,200 + $124.009) Supplies ($4.009) Equipment rental ($2,300 + $25.00q) Insurance ($4,100) Miscellaneous ($510 +$1.44q) Total expenses Net operating income 400 $ 180,000 60,800 1,600 12,300 4,100 1,086 79,886 $ 100,114 During May, the company's actual activity was 390 diving-hours. Required: Prepare a flexible budget for May. Note: Round your answers to the nearest whole number. Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expenses Net operating incomen Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below. Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (a) Revenue ($440.00g) Expenses: Wages and salaries ($11,600+ $124.00g) Supplies ($4.00g) Equipment rental ($2,200 $24,00g) Insurance ($4,100) Miscellaneous ($520 $1.469) Total expense Net operating income 350 $154,000 55,000 1,400 10,600 4,100 1,031 72,131 $ 81,869 During May, the company's actual activity was 340 diving-hours. Required: Prepare a flexible budget for May (Round your answers to the nearest whole number.) Puget Sound Divers