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In a flexible budget, costs are adjusted based on what factor?
In a flexible budget, costs are adjusted based on what factor?
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Practice Questions
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Q1
In a flexible budget, costs are adjusted based on what factor?
Fixed costs only
Variable costs only
Actual level of activity
Projected sales revenue
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A flexible budget adjusts costs based on the actual level of activity.
Questions & Step-by-step Solutions
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Q
Q: In a flexible budget, costs are adjusted based on what factor?
Solution:
A flexible budget adjusts costs based on the actual level of activity.
Steps: 4
Show Steps
Step 1: Understand what a flexible budget is. It is a budget that can change based on different levels of activity.
Step 2: Identify the factor that affects the flexible budget. This factor is the actual level of activity, such as sales volume or production levels.
Step 3: Realize that when the actual activity level changes, the costs in the flexible budget are adjusted accordingly.
Step 4: Conclude that the flexible budget helps in comparing actual costs to what they should be at the actual activity level.
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