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Chapter15Budgeting

Advantages

(i) Fixed budgets make no distinction between fixed and variable costs,

(ii) Fixed budgets take no account of production shortfall.

Disadvantages

(i) Flexible budgets are more expensive to operate.

(ii) In many businesses, especially service industries, most costs are fixed over a budget period.

多做几道

Explain what is meant by standard costing

Explain what is meant by a standard cost

Describe four types of standard.

Explain what is meant by a standard hour.

Give five possible sources of information from which a standard materials price may be estimated.

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