Term
|
Definition
| the difference between an actual result and a budgeted amount |
|
|
Term
|
Definition
| the performance exceeded expectations |
|
|
Term
|
Definition
| the performance fell short of expectations |
|
|
Term
| budget reconciliation report |
|
Definition
| a report that uses variances to reconcile the difference between master budget profit and actual profit |
|
|
Term
|
Definition
| a budget made for the actual level of sales, retaining all other plan assumptions in the master budget |
|
|
Term
|
Definition
| profit effect associated with the difference between the budgeted and actual price of an input |
|
|
Term
|
Definition
| profit effect associated with the difference between the budgeted and actual price of an input budgeted and actual input quantity used |
|
|
Term
| labor efficiency variance |
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
| the budget as prepared at the start of teh accounting period |
|
|
Term
| materials efficiency variances |
|
Definition
| see input quantity variance |
|
|
Term
|
Definition
|
|
Term
|
Definition
| the difference between actual revenues and flexible budgets revenues |
|
|
Term
|
Definition
| the difference in profit between the flexible budget and master budget |
|
|
Term
|
Definition
| the difference between budgeted fixed costs and actual fixed cost |
|
|
Term
|
Definition
| the difference between actual profit and master budget profit |
|
|
Term
|
Definition
| technique for determining why actual revenues, costs,, and profit differ from their budgeted amounts |
|
|
Term
|
Definition
1 prevention cost
2 appraisal cost |
|
|
Term
|
Definition
|
|
Term
|
Definition
1 training programs
2 quality design/engineering
3 supplier certification
4 field test |
|
|
Term
|
Definition
1 inspecting materials
2 product/process acceptance
3 production supervision |
|
|
Term
|
Definition
|
|
Term
|
Definition
1 scrap
2 rework
3 downtime
4 design changes |
|
|
Term
|
Definition
1 legal costs
2 warranty work
3 returns
4 allowances for poor quality |
|
|
Term
|
Definition
| available in accounting system |
|
|
Term
|
Definition
|
|
