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In a flexible budget, costs are adjusted based on which of the following?

Practice Questions

Q1
In a flexible budget, costs are adjusted based on which of the following?
  1. Actual sales volume
  2. Projected sales volume
  3. Historical sales volume
  4. Standard costs

Questions & Step-by-Step Solutions

In a flexible budget, costs are adjusted based on which of the following?
  • Step 1: Understand what a flexible budget is. It is a budget that changes based on actual sales or production levels.
  • Step 2: Know that costs in a flexible budget are not fixed. They can vary depending on how much is sold or produced.
  • Step 3: Realize that the main factor for adjusting costs in a flexible budget is the actual sales volume.
  • Step 4: Learn that by adjusting costs based on actual sales, businesses can evaluate their performance more accurately.
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