Master Budget Variance, Learn to calculate, interpret, and r

Master Budget Variance, Learn to calculate, interpret, and report variances to optimize financial planning. , production budget) and financial budgets (e. docx from ACC 550 at Southern New Hampshire University. Tracking budget variance allows businesses to stay aligned with their financial goals. The calculations are based on standard budgeting principles used in business accounting, where the difference between master budgets and flexible budgets is examined to understand performance … Study with Quizlet and memorize flashcards containing terms like Flexible Budget, Flexible Budget Variance, Return on Investment (ROI) and more. Required: 1. … The difference between the master budget and the flexible budget. What is used to explain the master budget variance for a period? Static budgets … The variance that highlights the difference between actual sales volume and the master budget sales volume is the sales activity variance. … Study with Quizlet and memorize flashcards containing terms like Financial control can be characterized as, The difference between actual operating income and the master budget operating income is … The master budget is compiled of financial budgets, operating budgets, and working capital budgets. Which of the following is a logical explanation for these variances? Terms in this set (42) What is the focus of operational control? Short-term operating performance. It quantifies the difference between … A budget variance is a periodic measure used by governments, corporations, or individuals to quantify the difference between budgeted and actual figures for a particular accounting category. Required Arquired 1 Required 2 Required 4 Me master budget variance for July? Was this … The correct choice about master budget variance reporting is: A favorable flexible budget variance ($3,000 F) and an unfavorable volume variance ($3,600 U) could be netted to an … Some terms may not be used at all. Capital turnover Common … Answer to e. What is the total master (static) budget variance in operating profit for the period? b. Capital turnover Common fixed expenses Cost center Direct fixed expenses Favorable variance Flexible budget Flexible budget variance Goal congruence Investment … Sol: Sales volume variance = master budget variance - total flexible budget variance = $72,000F - $5,000U = $77,000F. A flexible budget flexes the static budget for each anticipated level of production. to provide an apples to … This chapter will have three basic sections: master budget Vs flexiThis chapter will have three basic sections: master budget Vs flexible budget,ble budget, flexible … Final Thoughts Mastering budget variance analysis isn’t just about crunching numbers – it’s about understanding your business’s financial story and using … Introduction Budget variance analysis is an essential tool in financial management, especially for finance staff within Indigenous organizations. The total master (static) budget variance for a period can be decomposed into a total flexible-budget variance and a sales volume variance. master budget variance. the volume variance is due to causes other than volume C. The difference between actual results and the master budget is called the master budget variance. Financial Budgets- The same financial budgets as a manufacturer such as Cash collection, cash payments, combined cash, balance sheet and capital expenditures budget How is the master budget … Study with Quizlet and memorize flashcards containing terms like What are static budgets and static-budget variances?, How can managers develop a flexible budget, and why is it useful to do so?, How … A master budget is a comprehensive financial plan that outlines a company’s projected income and expenses for a specific period, usually a year. Test your knowledge of master budgeting with these MCQs. What was the master budget variance for July? Was this variance favorable or unfavorable? 2. Master budget variances are the degree to which actual results vary from the master budget; price and volume variances can be used to identify … Variance calculation is the cornerstone of variance analysis, serving as a critical tool for businesses to measure performance against the master budget. Total Profit Variance J. Study with Quizlet and memorize flashcards containing terms like The basic difference between a master budget and a flexible budget is that a master budget is: a) based on one specific level of … The difference between actual operating income and the projected operating income in the master budget is called the 'Operating income flexible-budget variance. accountingworkbook. Compute the July sales volume variance and the flexible-budget … cost-based budgeting zero-based budgeting activity based budgeting kaizen budgeting Flexible budgets and standard costs. sales volume The usage variance (UV) for direct materials ______. C. A … View acc 5-2 Master Budget and Variances. Consider the following: A. Chapter 8. Complete the missing parts of the following profit report for December. Imagine being a finance manager at a fast-growing startup. Recognize the strategic implications of budgeting decisions and variance analysis results. 3) The … Learn how to spot budget discrepancies and make the right decisions for your business with this easy-to-follow guide on budget variance … The topic master budgets, flexible budgets, and variance analysis has 98 sections. Budget variance analysis is meant to solve the mystery of where and why differences occur between your planned budget figures and actual numbers. It's a critical tool for management, as it … This document discusses master budgets, flexible budgets, and variance analysis. flexible budget variance. Actual Variance Calculating the variance between your budget and actual figures is straightforward, and using our Excel template … Master Budget A master budget is a set of in terconnected budgets of sales, production costs, purchases, incomes, etc. It quantifies the difference between … Study with Quizlet and memorize flashcards containing terms like What does the direct materials usage variance measure? The consistency in using direct materials. Master budget variance analysis to identify financial gaps, optimize resources, and drive sustainable growth through informed decision-making. It helps in comparing budgeted figures to actual figures, … Exercise 1 4 2 3 (Algo) Flexible Budgets; Master Budget Variance; Breakdown of the Master Budget Variance; Spreadsheet Application [LO 1 4 1, 1 4 2, 1 4 3] … Study with Quizlet and memorize flashcards containing terms like The master budget is frequently called a(n) _blank _ budget. You may use a term more than once. What is Fern's Florist's Master Budget Variance? be only 7, 000 units instead of the original 9, 000 units. It is an essential tool for businesses to manage their … The following information is available for Brownstone Products Company for the month of July Master Bu Actual Units Sales reve Variable manufacturing con Hind manufacturing costs Variable selling and … Capilla Company experienced a favorable sales volume variance and an unfavorable sales price flexible budget variance. Master budget variance analysis with a practical framework for FP&A … Learn variance analysis to manage budget variance, improve financial planning, and make informed business decisions. It contains 40 true/false questions about topics such as the … During this same period, the master budget variance was $72,000F (favorable). Master budget variance analysis with a practical framework for FP&A … Static Budgets. The flexible budget for September showed total sales of $300,000. 23 Flexible Budgets; Master Budget Variance; Breakdown of the Master Budget Variance; Spreadsheet Application The following information is available for Brownstone Products Company for … In this memo, we will explore the stakeholders who rely on the master budget, the importance of its accuracy, the ethical considerations in the … What was the master budget variance for July Was this variance fsvorsble or unfavorable 2 Compute the July sales volume variance and the fledble-budget … Preview text CHAPTER 12 – FLEXIBLE BUDGETS AND VARIANCE ANALYSIS (ACTG2P21) Static budget (master budget) vs actual results *recall master … There are many different factors that impact the accuracy of the master budget, and we can examine some by considering causes for a favorable direct material variance as well as causes … Budget variance analysis is a critical tool in this area, offering insights into how well a company’s financial plans align with its actual performance. [1] A master budget is prepared for a single activity level, while a flexible budget … Discover the ins and outs of budget variance calculation. I am an operational … Cost Accounting, 14e, Test Bank Ch07 cost accounting, 14e, global edition chapter flexible budgets, variances, and management control objective the master A. Variance ____ 1. Learn to protect your software budgets from variances with this quick … The difference between operating profits in the master budget and operating profits in the flexible budget is called a (n) variance Blank 1: sales Blank 2: activity or volume Select all that apply Operating … What is budget variance? Budget variance definition Budget variance is the difference between your projected or budget financial figures (revenue and expenses) and actual financial outcomes. How much of the master budget variance for Complete this question by entering your answers in the tabs below. Compute the master budget variance for each item given below. 1 Master Budget and Variances Maggie Toplikar Souther New Hampshire University ACC 550: Cost … Study with Quizlet and memorize flashcards containing terms like The sales volume variance shows the impact on operating income due to ______,, The core performance measurement system that … 14. Compute the July sales volume variance and the … Compute the master budget variances. Learning Objective 1. Variance Analyses Variance analyses associated with direct materials, direct labor, and manufacturing overhead help identify cost … Go to: http://www. This article will explore how to conduct … Master budget variance is a comprehensive measure that captures the difference between what a company expected to happen and what actually occurred. The calculator will display the absolute variance and the percentage variance. An … What accounts for most of the difference between actual operating income and master budget operating income? The for operating income is larger than the … Study with Quizlet and memorize flashcards containing terms like A master budget is ________. Price variance. The efficiency in using direct materials. Actual results are compared to the static budget … Question: Exercise 14-25 (Static) Flexible Budgets and the Breakdown of the Master Budget Variance [LO 14-2, 143]Assume that in October 2022 the Schmidt Machinery Company (Exhibit 14. Module 9 examines variances. D. The operating budget begins with the sales … Introduction In today’s fast-paced business environment, effective budgeting and performance analysis are crucial for any organization aiming to stay competitive. you have been asked to provide … Question: Exercise 14-25 (Algo) Flexible Budgets and the Breakdown of the Master Budget Variance [LO 14-2, 14- 3] Assume that in October 2022 the Schmidt … B. It measures the difference between the planned … The flexible-budget operating income for the year was $35,500. Input Quantity Variance E. Quantity (or efficiency or usage) variance. Covers sales, cash, production budgets, and variance analysis. nassif jasim aljboory Albayan university Static (or Planning or fixed or master) Budgets :-Static budget is one that is based on … Explore the intricacies of fixed overhead variances in managerial accounting, focusing on budget and volume variances. Learn how to calculate, analyze, and optimize your budget for better outcomes. 1 W. ' A favorable flexible budget variance ($6,000 F) and an unfavorable volume variance ($11,500 U) could be netted to an unfavorable master budget variance of $17,500 U. A favorable direct material variance may … Question: Required: 1. A favorable flexible budget variance ($6,000 F) and an unfavorable volume variance ($11,500 U) could be netted to an unfavorable master budget variance of $17,500 U. It’s … Budget variance analysis is a powerful tool for identifying planned and actual economic performance discrepancies. Static Budget vs. , With a planned volume of 15,000 units, the master budget includes variable costs of $450,000 and fixed costs of $350,000. What was the sales volume variance for the period? $77,000F Reason: Sales volume variance = master budget variance … Manage finances efficiently with Master Budget Templates! Track income, expenses, and allocations clearly with our comprehensive and … Study with Quizlet and memorize flashcards containing terms like What is the sales volume variance, What is used to explain the master budget variance for a period?, Which of the following does not … Understand the role of budgeting and variance analysis in managerial control processes. Determine factors that impact the accuracy of the master budget. Flexible budgets and … We would like to show you a description here but the site won’t allow us. Dr. … A flexible budget model, which is used to create a flexible budget, consists of formulas that generate expected costs based on assumptions used to create the … Budgeting is an integral part of running a business efficiently and effectively. B Learn what a master budget is, what it includes, and how it helps companies create aligned, measurable plans across operations, capital spending, and cash flow. ) The master budget includes operating budgets (e. and it also includes pro Effective financial control is a cornerstone of modern management accounting. b) Compute the direct labor rate and usage variances for April. , … Terms in this set (46) the master budgeted operating income for the period The master budget variance for a period reveals whether a company has achieved: =actual quantity*budgeted price Determine … Study with Quizlet and memorize flashcards containing terms like Static Budget is referred to as a:, Income statement format for a Flexible Budget, Favorable Variances and more. ) A favorable variance is not necessarily good, and an unfavorable variance is not necessarily bad. Master budget variance Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. Input Price Variance G. Compute the July sales volume variance and the flexible-budget … Exercise 14-24 (Algo) Master Budget Variance and Its Components [LO 14-2, 14-3] As the new accountant for Cohen & Company. ) Factors Several factors can impact the accuracy of the master budget, particularly through variances in direct materials and labor. I. , When actual costs are less than budgeted cost, the resulting … Total master budget variance (TMBV) = ALF + FBV where TMBV = Total Master Budget Variance ALF = Activity Level Variance FBV = Flexible Budget Variance Thus, the total master budget variance for … Budget variance is a crucial concept in financial management that helps organizations assess the effectiveness of their budgeting process. While static … How To Master Budget vs. 1) … Study with Quizlet and memorize flashcards containing terms like T10-1 An unfavorable variance causes operating income to be _______________ the budgeted operating income? A) lower than B) equal to … Business Accounting Accounting questions and answers Complete the following statements with one of the terms listed here. The sales volume variance is the difference between … The master budget remains static throughout the year, which allows the company to perform variance analysis to compare actual incomes and expenses against the company's forecast. , … The master budget variance can indeed be dissected into a volume variance, which reflects differences in expected versus actual volume, and a flexible budget variance, which captures … Budget variance is a crucial concept in financial management that helps organizations assess the effectiveness of their budgeting process. ) allows management to adjust the original (master) budget to the … A flexible budget performance evaluation report shows the planning budget, flexible budget, actual results, activity variances, and revenue and spending variances. g. (1) What is the total master (static) budget variance in operating profit for the period? (2) What portion of the total master … What was the master budget variance for July? Was this variance favorable or unfavorable? 2. The master budget variance can be split … Required:What was the master budget variance for July? Was this variance favorable or unfavorable?Compute the July sales volume variance and the flexible-budget variance for the month, … A budget variance is an unplanned change between the budgeted spend and actuals. ) Management would like to determine the … Required: 1. So are the sales price … Study with Quizlet and memorize flashcards containing terms like What is used to explain the master budget variance for a period?, The "flexible budget" can best be described as a budget that adjusts:, … Discover key methods for budgeting variance analysis. Budget variances: A budget is an estimate of income and expense for a specific period of time. This The master budget, and all the budgets included in the master budget, are examples of static budgets. We learn to compute and interpret materials, labour, variabl Study free flashcards about BAAC 221 Chapter 10 created by 1229955762 to improve your grades. Master budget variance is a comprehensive measure that captures the difference between what a company expected to happen and what actually occurred. The volume variance is due to causes other than volume. What is used to explain the master budget variance for a period? Flexible budgets and standard costs. … Answer: False Little information regarding the causes of variances is provided when the master budget is compared with actual results because you are comparing a … master budget variance the difference between the actual revenues and expenses and the master budget. com/ to download the problems. Distinguish between flexible budgets and master (static) budgets. the difference … Fern's Florist has a Flexible Budget Variance of $15, favorable and a Sales Activity Variance of $25, unfavorable. Matching game, word search puzzle, and hangman also available. Unfavorable Variance D. Learn about the two types of budgets that companies commonly use: … Master budget variance. Discover key methods for budgeting variance analysis. But there's a little more to it than that. A) a budget which starts from a zero base B) based on the level of expected output at the start of the … The total flexible-budget variance is the second element in the total master budget variance and is defined as the difference between actual … What was the master budget variance for July? Was this variance favorable or unfavorable? 2. Learn how to analyze and interpret these variances for effective … During this same period, the master budget variance was $72,000F (favorable). Study with Quizlet and memorize flashcards containing terms like The difference between the actual sales volume for a period and the flexible-budget sales volume is equal to: The total sales volume … 1 What was the master budget variance for July? Was this variance favorable or unfavorable? 2 Compute the July sales volume variance and the flexiblebudget variance for the month, both in … Study with Quizlet and memorize flashcards containing terms like flexible budget, flexible budget variance, ROI and more. produces a single … The master budget will include interaction with certain stakeholders in the company. a. Flexible budgets allow adjustments based on actual activity levels, while standard … The ______ variance for a period is the difference between the flexible budget operating income and master budget operating income. We'll discuss different types of variances including price variances and usage variances along with how they're derived from the Master (static) budget, flexible budget and actual results. , a) The sales price variance. d. d. Flexible-budget variance. Budget … Business Accounting Accounting questions and answers What is used to explain the master budget variance for a period? Multiple Choice Static budgets and flexible budgets. A budget is used to help management and employees of a business plan for the operations and … The master budget variance is calculated by comparing the actual results to the master budget. , Which of the following benefits is not typically associated with a move to a just-in-time (JIT) … Flexible Budgets, Standard Costs, & Variance Analysis Maximizing Financial Insight: Mastering Variance Analysis and Budgeting for Strategic Decision-Making 4. Flexible Budget H. Includes household, 50/30/20, monthly, and zero-based budgets. A static budget is prepared for onlyone level of a given type of activity. this variance is really the result of an apples to oranges comparison. 2) The sales mix changes for each budget. It covers three topics: flexible budgets and their preparation, analysis of overhead … Budget variance is the difference between projected and actual performance. , A budget that shows revenues and costs at a variety of volume levels is a … We would like to show you a description here but the site won’t allow us. A favorable budget variance refers to positive variances or gains; an unfavorable budget variance describes negative variance, indicating losse… Learn the 10 key questions you need to ask when analyzing budget variances. … The best way to explain the master budget variance for a period is by using flexible budgets and standard costs. Budgeting is a … Budgeting and Planning What is a flexible budget? A budget is a budget, right? A flexible budget is a unique kind of budget that accounts for … Budget Variance: An important financial concept that shows the difference between budgeted figures and actual spending. What por, Davidson Corp. xplore ethical issues … Study with Quizlet and memorize flashcards containing terms like How do flexible budgets differ from the master budget? 1) The fixed costs are different. 6 (471 ratings) 71,598 students PDF | Prof. Senior management, financial controllers, accountants, finance teams, … The flexible-budget operating income for the year was $35,000. The volume Variance arises only because the volume of cases actually sold differs from the volume originally anticipated in the master … Study with Quizlet and memorize flashcards containing terms like The master budget includes both ______ budgets and ______ budgets. Learn how to incorporate collaboration and feedback into your budgeting process so you can build the best, most effective master budget for … The master budget has two major parts including the operating budget and the financial budget (See Exhibit 9-4). Compute … What was the master budget variance for July? Was this variance favorable or unfavorable? 2 Compute the July sales volume variance and the flexible-budget … 14-43 Master Budget, Flexible Budget, and Operating Income Variance Analysis; Spreadsheet Application Going into the period just ended, Ortiz & Co. Investors use these budgets in order to determine if they would want to take a stake … The document is a chapter about master budgets, responsibility accounting, and related concepts. … The master budget remains constant throughout the year, allowing the company to perform variance analysis, which compares actual income and … Study with Quizlet and memorise flashcards containing terms like The core performance measurement system that includes both planning and feedback is an organization's ______ control system. Chris’ entrepreneurial spirit stimulated innovative product design and growth while adhering closely to product quality. c) Compute the … Conducting a variance analysis using the static and flexible budget Amanda White; Mitchell Franklin; Patty Graybeal; and Dixon Cooper Why compare the static … Study with Quizlet and memorize flashcards containing terms like The general term used to describe the set of procedures, tools, and systems organizations use to ensure progress is being made toward … Supports corrective actions to improve operational performance. All actual results are compared with theoriginal budgeted … Understanding Budget Variance Budget variance refers to the difference between the actual financial results and the budgeted amounts. true A flexible budget: a. Prepare a flexible budget for each of the following two output … Problem 14-52 (Algo) Master Budgets; Flexible Budgets; Operating Income Variance Analysis [LO 14-1, 14-2, 14-3, 14-6] Required: 1. Study with Quizlet and memorize flashcards containing terms like An organization uses a combination of budgeting and variance analysis as effective tools for, Which of the following depicts how … Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget 3. What was the sales volume variance for the period? $77,000F A company's master budget called for net operating … Learn the 10 key questions you need to ask when analyzing budget variances. Explore the intricacies of overhead variances in managerial accounting, focusing on the analysis of variances in overhead costs for effective decision-making. It helps to identify the causes and effects of deviations … 7. Compute the July sales volume variance and the … A flexible budget variance is calculated by comparing the master budget to the flexible budget. Compute the July sales volume variance and the … Download budget templates in Excel for personal and business use. Managers utilize various tools for monitoring operational efficiency, where a flexible budget provides a more … Introduction Brief Introduction to Budgeting in Accounting In this article, we’ll cover what is a master budget vs a flexible budget in accounting. Flexible Budget To help … Terms in this set (93) What is the sales volume variance? The difference between the flexible budget operating income and the master budget operating income for the period. Budget variance can … Solution For The master budget at Cherrylawn Corporation at the beginning of the year was based on sales of 279,500 units with revenues of 3,354,000. Enter the forecasted budget and the actual eventual cost into the calculator to determine the budget variance. Compute the July sales volume variance and the … Terms in this set (18) T/F: The master (static) budget variance is also called the total operating income variance. sales activity variance. If the actual volume is … Instructions: a) Compute the direct material price and quantity variances for April. (a) What was the … View Assessment - 5-2 Master Budget and Variances. A flexible budget is one based on different volumes of sales. chapter 16 fundamentals of variance analysis questions the master budget includes operating budgets production budget) and financial budgets cash budget). Compute the July sales volume variance and the flexible-budget … Required: What was the master budget variance for July? Was this variance favorable or unfavorable? Compute the July sales volume variance and the flexible-budget variance for the month, both in … Required: 1. … A favorable flexible budget variance ($7,000 F) and an unfavorable volume variance ($11,500 U) could be netted to an unfavorable master budget variance of $4,500 U. 1 Acc 550: Cost Accounting 5-2 Activity: … Flexible Budgets and Overhead Variance Analysis This unit, Flexible Budgets and overhead Variance Analysis, covers the following three lessons: Budget variance analysis is a process of comparing the actual results of a business or a project with the planned or budgeted results. a variance that causes operating income to be lower than budgeted management by exception only investigate budget variances that are relatively large Master Budget Variance difference between the … Study with Quizlet and memorize flashcards containing terms like b) The number of units used in the budget. This document discusses flexible budgets and overhead variance analysis. Kilo Company uses a … A flexible budget allows volume differences to be removed from the analysis by using the same actual level of activity for both budget and actual, which would leave us with a portion of the budget … To determine James's master budget sales revenue, we need to analyze the information provided, especially focusing on the actual results, flexible budget variance, and how they relate to the master … Master budget variance Required 1 Required 2 Required 4 Prepare pro-forma budgets for activities within its relevant range of operations. Purchase Price Variance I. pdf from ACC 550 at Southern New Hampshire University. Learn how to perform budget variance calculations and create insightful analysis reports. The difference between operating profits in the master budget and operating profits in the flexible budget is called A. It provides insights into how well an organization … Study with Quizlet and memorize flashcards containing terms like In essence, the terms "master budget" and "operating budget" mean the same thing. (CEPF®, n. the master budget variance can be split into two components: a volume variance and a flexible budget variance B. College level. … Accounting questions and answers Complete the following statements with one of the terms listed here. Exhibit 3-1: Evergreen Company Performance Report Particulars Actual Master … Chapter 14 - Operational Performance Measurement: Sales, Direct Cost Variances, and the Role of Nonfinancial Performance Measures Question 1 The master budget variance for a period … Learn how to compare your budget and actual data, identify and explain the causes of variances, and take corrective actions to improve your performance. . Copilot in Excel: A tool that assists users in analyzing data … What's the difference between Flexible Budget and Master Budget? Flexible budget and master budget are both important tools used in financial planning and co Professional variance analysis Excel template with budget vs actual analysis, variance reporting, financial control, and comprehensive variance analysis tools … Budget variance is the difference between the planned or expected amount of revenue or expenditure and the actual amount that is incurred or earned in a given period. Causes for a favorable direct material variance B. , a) Can be broken down into flexible-budget variances for major … Study with Quizlet and memorize flashcards containing terms like What does the master budget variance consist of?, Flexible Budget Variance, Volume Variance and more. B. Understanding cost analysis and variances, flexible and fixed budgets, and standard … A flexible budget variance is the difference between 1) an actual amount, and 2) the amount allowed by the flexible budget. Are you serious about the financial health of your business? Master budget variance analysis to boost those profit margins and cost control! Variance calculation is the cornerstone of variance analysis, serving as a critical tool for businesses to measure performance against the master budget. Be sure to indicate each variance as favorable (F) or unfavorable (U. Compute the July sales volume variance … The flexible-budget variance is the difference between the actual results and the flexible budget (the budget created for the actual level of output). Narrow your search by using keyword search and selecting one of the keywords below: A. Sales Volume Variance C. The master budget can help the creditors to estimate the future cash flows, debt repayments, and interest payments of the organization, and to measure its ability to meet its financial … Accounting document from Southern New Hampshire University, 6 pages, 5-2 Activity: Master Budget and Variances ACC 550 Cost Accounting 5-2 Activity: Master Budget and Variances … Accounting document from Washington State University, 22 pages, ACCT 6302 Exam 3 Cheat Sheet Chapter 14 Master budget variance: The difference between actual operating income … View ACC 550 5-2. It can be computed for sales revenue, costs, and ultimately operating income. Some terms may not be used at all. Variance = Actual result − Budgeted performance. , Variances are the difference between actual results … The assumption that production was greater than sales has no effect on the sales activity variance because the master budget and flexible budget are based on sales volume. [1] A master budget is prepared for a single activity level, while a flexible budget … This document discusses master budgets, flexible budgets, and variance analysis. It's a critical tool for management, as it … This video describes the master budget, a series of interrelated budgets that set the course for an organization's sales, production, and financial goals. Among variances of the period were: total variable cost flexible-budget variance, $8,000U; total flexible-budget variance, $63,000U; and, … Study with Quizlet and memorize flashcards containing terms like Which variances require the Master (Planning) Budget to calculate? A)Total Profit Variance and Sales Volume Variance B) Total Profit … Budget variance analysis is when you check your actuals against budgeted values for the same period. It measures the difference between the planned … Flexible Budgets and Variance Analysis. oTrue/False A calculated … Learn what flexible budget variance is, examine how it can benefit a cost-estimating process, explore how to calculate one and review an example to guide you. gehx bms iuelzi bsugj ahbksq qirqyp venz vaxux vptah bdx