A budget that is based on the actual activity of a period is known as a:
19) A budget that is based on the actual activity of a period is known as a:
A) continuous budget.
B) flexible budget.
C) static budget.
D) master budget.
20) Sathre Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes.
When the company prepared its planning budget at the beginning of December, it assumed that 34 wells would have been serviced. However, 32 wells were actually serviced during December.
The "Employee salaries and wages" in the flexible budget for December would have been closest to:
A) $87,000
B) $84,600
C) $85,200
D) $89,888
Homework Answers
Question 1
Correct answer-------(B) Flexible budget
A flexible budget is prepared on actual activity level during the period.
Question 2
Correct answer-------(C ) $85,200
| Employees salaries on flexible budget | |
| Fixed salary | $ 56,400.00 |
| Variable salary portion (32 x 900) | $ 28,800.00 |
| Total Budgeted salary for actual activity level | $ 85,200.00 |
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