Answer:
b. the budget is adjusted to the actual activity for the period.
Explanation:
A flexible budget performance report is a comparison between actual costs and revenues, and the budgeted income and expenses at the end of a period, based on actual performance. The report shows the difference between the actual results and the estimated numbers. Management uses the report to determine if the company's results were in line with management expectations.
The performance report is prepared at the end of a financial period. It helps the management analyse any major variances between the actual performance at the estimated numbers at the beginning of a period. The report helps the management identify the companies strong areas, and the sections that need improvements.
To measure changes taking place in your financial situation, you probably need to calculate financial ratios.
<h3>What is financial ratio?</h3>
A financial ratio can as well be described as the accounting ratio which is the relative magnitude of two selected numerical values that is been gotten from a enterprise's financial statements.
It encompass many standard ratios used to try to evaluate the overall financial condition , hence To measure changes taking place in your financial situation, you probably need to calculate financial ratios.
Learn more about financial ratios at:
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Answer:
$1.60 per direct labor hour
Explanation:
Overhead application rate = Budgeted Overheads ÷ Budgeted Activity
hence,
Overhead application rate = $364,800 ÷ $228,000
= $1.60 per direct labor hour
Answer:
federal laws
Explanation:
The sarbanes-oxley act is a Federal legislation that was passed in the US on 30th July 2002. to reform, protect the accounting and corporate financial sector which includes the interest of the investors. Note: an act consist of written laws and it is made by the legislative arm of the government.