Variable costing is an accounting method used to calculate the cost of producing a product or service. Unlike absorption costing, which allocates all costs associated with production to the product,...
Category: Managerial Accounting
A capital expenditures budget is a financial plan that outlines a business's anticipated spending on long-term assets, such as buildings, equipment, and technology. The purpose of a capital...
A selling and administrative expense budget is a financial plan that outlines the expected expenses associated with selling and general administration for a specific period. The budget includes all...
A cost of goods sold budget is a financial plan that outlines the estimated expenses associated with the production and sale of goods or services for a specific period. This budget is a crucial...
Budget variance is a concept used in financial management that compares actual results to the budgeted or expected results. It is used to determine whether a business is on track to meet its...
In accounting, a variance refers to the difference between an actual result and an expected result. Variances can occur in many different areas, including sales, expenses, production costs, and labor...