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What is Understanding Flexible Budgets Explained about?
Flexible budgets are performance evaluation tools that adjust the original static budget for actual output levels achieved. To create a flexible budget, you determine: 1) budgeted variable costs per unit, 2) budgeted fixed costs, and 3) actual output. Then build the flexible budget using this information to compare actual costs to expected costs based on actual output, rather than expected output. Flexible budgets allow for a fair "apples to apples" comparison of performance by adjusting the budget for actu
- Author
- Ash Hora
- Language
- EN