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Budgeting

This topic has 3 replies, 3 voices, and was last updated 10 years ago by John Moffat.

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March 9, 2014 at 3:13 pm #161838
dookhan12
Member
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Hello sir, will I be asked in the exam to prepare the following budgets?
– Sales
– Production
– Raw material usage
– Raw material purchases
– Labor
– Overhead
Thanks 🙂
March 9, 2014 at 3:46 pm #161920
John Moffat
Keymaster
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It would be surprising, but it is all assumed knowledge from Paper F2 and so it could be asked. Unlikely though.
March 15, 2014 at 11:55 am #162398
raja777
Member
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Sir what is the difference between flexed and flexible budget
March 15, 2014 at 1:08 pm #162401
John Moffat
Keymaster
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A fixed budget is the original budget.
A flexed budget is when the original budget is adjusted for the actual level of activity (i.e. actual sales and actual production).
If you watch my lecture on budgeting I explain the difference with an example.
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