The flexible budget performance report directs management's attention to areas where:corrective action can help control operations.
<h3>What is flexible budget performance report?</h3>
Flexible budget performance report can be defined as the type of report that enables the management of a company to determine the difference between quantity variance and price variances.
Flexible budget performance report is important for companies as it draw their attention to areas were they need to take corrective action that will lead to efficiency.
Inconclusion it directs management's attention to areas where:corrective action can help control operations.
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Answer:
Price of British beef falls initially, but regains some of its losses. Quantity sold falls.
Explanation:
British beef represents a large portion of the total European beef market, so a ban on British beef imports will initially cause the price of British beef to decrease a lot, but it will also increase the price of other European beef. This price shake up will eventually lead to a recovery of the price of British beef, since not all the cows were sick, but the most negative impact was not only on the price decrease but on the decrease in exports. Obviously a European ban on imported British beef will cause a dramatic decrease in the quantity sold.
Answer:
c
Explanation:
The classical dichotomy states that real variables e.g. employment are dependent of monetary variables or nominal variables and so they can be analysed separately. According to this theory, the primary function of money is to enhance the efficient production and exchange of goods and services. According to the theory, an economy exhibits classical dichotomy if real variables can be analysed separately from nominal variables
Answer:
production at this point is technically inefficient.
Explanation:
Efficient production processes requires a producer to either minimise the inputs they are using at a given output or maximise output level at a given input level.
Technical inefficiency is when input is not minimised or output maximised.
In the given instance the fixed cost (airplane) remains unchanged. However crew members can be variable.
If the airplane only requires 3 crew members and 4 crew members are now used, the company is not minimising inputs used so they are technically inefficient.
A project management document that allows you to identify the scope, scale, and core details of your upcoming design project.
