Notes
Chapter 9
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Prepare a flexible budget and a flexible budget performance report
Planning budget: Prepared before the period begins and is valid for only the planned level of activity
Flexible budget: An estimate of what revenues and costs should have been, given the actual level of activity for the period
Use the cost formula for each cost to figure out the actual level of activity
Rent, liability insurance, and employee health insurance are not affected by the cost formula
Calculate and interpret activity variances
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- Managerial Accounting Note on Chapter 9, created by Heather Sienzant on 17/04/2020.
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- Heather Sienzant
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