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Chapter 11 - Flashcards

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Class:ACC 312 - FUNDAMENTALS OF MANAGERIAL ACC
Subject:Accounting
University:University of Texas - Austin
Term:Spring 2010
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activity based flexible budget a flexible budget based on several cost drivers rather than on a singe, volume-based cost driver
fixed-overhead budget variance the difference between actual and budgeted fixed overhead
fixed-overhead volume variance the difference between budgeted and applied fixed overhead
flexible budget a budget that is valid for a range of activity
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overhead cost performance a report showing the actual and flexible budget cost levels for rach overhead item, together with variable-overhead spending and efficiency variances and fixed-overhead budget variances
sales-volume variance the difference between actual sales volume and budeted sales volume multiplied by the budgeted unit contribution margin
static budget a budget that is valid for only one planned activity level
unit contribution margin sales price minus the variable cost
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variable-overhead efficiency variance the difference between actual and standard hours of an activity base multiplied by the standard veriable-overhead rate
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 activity based flexible budgeta flexible budget based on several cost drivers rather than on a singe, volume-based cost driver
 fixed-overhead budget variancethe difference between actual and budgeted fixed overhead
 fixed-overhead volume variancethe difference between budgeted and applied fixed overhead
 flexible budgeta budget that is valid for a range of activity
 overhead cost performancea report showing the actual and flexible budget cost levels for rach overhead item, together with variable-overhead spending and efficiency variances and fixed-overhead budget variances
 sales-volume variancethe difference between actual sales volume and budeted sales volume multiplied by the budgeted unit contribution margin
 static budgeta budget that is valid for only one planned activity level
 unit contribution marginsales price minus the variable cost
 variable-overhead efficiency variancethe difference between actual and standard hours of an activity base multiplied by the standard veriable-overhead rate
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