Cash Budgets and Variance Analysis

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8 Terms

1
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Cash Budget tips

draw out columns
do cash budget THEN answer questions

2
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Variance Analysis

Budget (plan) - actual outcome

3
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flex budget

do when planned units are different from actual units

4
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sales price variance

sales rev actual - flexed (ie. top 2 right)

5
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sales volume variance

profits original - flexed (ie. bottom 2 left)

6
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fixed overhead variance

orignal(or flexed) - actual

7
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direct labor efficiency variance

SP(FH-AH)

8
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direct labor rate variance

(AH cost) - (AHxSR)