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Managerial Accounting
Introduction to Managerial Accounting
Jeannie M. Folk
Ray H. Garrison
Eric Noreen
Flexible Budgets and Overhead Analysis

Learning Objectives

After studying Chapter 9, you should be able to:

1

Prepare a flexible budget and explain the advantages of the flexible budget approach over the static budget approach.

2

Prepare a performance report for both variable and fixed overhead costs using the flexible budget approach.

3

Use the flexible budget to prepare a variable overhead performance report containing only a spending variance.

4

Use the flexible budget to prepare a variable overhead performance report containing both a spending and an efficiency variance.

5

Compute the predetermined overhead rate and apply overhead to products in a standard cost system.

6

Compute and interpret the fixed overhead budget and volume variances.




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