Acct505 Class Activity Week 5

In: Business and Management

Submitted By Lynndawg
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Class Activity Week 5
9–1 What is a static planning budget? A static budget is a budget that does not change as volume changes. If a company’s annual master budget is a static budget, the budget for sales commissions expense will be one amount such as $200,000 for the year. In other words, in a static budget the budgeted amount for sales commissions expense will remain at $200,000 even if the actual sales during the year are $3 million, $4 million or $5 million.
9–2 What is a flexible budget and how does it differ from a static planning budget? A flexible budget is a budget that adjusts or flexes for changes in the volume of activity. The flexible budget is more sophisticated and useful than a static budget, which remains at one amount regardless of the volume of activity. The difference between static budget and a flexible budget is that a static budget does not change with the output while a flexible budget changes with the level of outputs. Static budget has a limited application while a flexible budget has a variety of applications.
9–3 What are some of the possible reasons that actual results may differ from what had been budgeted at the beginning of a period? The differences are usually due to a change in the level of activity, changes in prices, and changes in how effectively resources are managed.
9–4 Why is it difficult to interpret a difference between how much expense was budgeted and how much was actually spent? A difference between the budget and actual results can be due to the level of activity that impact on costs. From a manager's perspective, a variance that is due to a change in activity is very different from a variance that is due to changes in prices and changes in how effectively resources are managed. A variance of the first kind requires very different actions from a variance of the second kind. Consequently, these two kinds of…...

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