Survey of Accounting (Accounting I)
Solutions
Survey of Accounting (Accounting I)
Service company static decision making A bank manager of Oxford First Bank Inc. uses the managerial accounting system to track the costs of operating the various departments within the bank. The departments include Cash Management. Trust. Commercial Loans, Mortgage Loans. Operations. Credit Card, and Branch Services. The budget and actual results for the Operations Department are as follows:
What information docs the budget fail to provide? Specifically, could the budget information be presented differently to provide even more insight for the bank manager?
Concept Introduction:
Static Budget and Flexible budget:
Static Budget is prepared on the basis of the expected level of output or production. The static budget shows the budgeted costs are revenue at an expected level of activity. The Flexible budget is prepared using the static budget. The Flexible budget is prepared to take the actual level of output or production as a basis.
To Indicate:
The information that is not provided by the budget
Static Budget is prepared on the basis of the expected level of output or production. The static budget shows the budgeted costs are revenue at an expected level of activity. The Flexible budget is prepared using the static budget. The Flexible budget is prepared to take the actual level of output or production as a basis...
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