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A report that compares actual revenues 1.Presented below are terms preceded by letters a through h and followed by a list of definitions 1 through 8. Enter the letter of the term with the definition, using the space preceding the definition. 1. Fixed budget performance report Difference in sales or costs, when the actual value is compared to the budgeted value, that contributes to a lower income. __ _ 2. Quantity variance A report that compares results with fixed budgeted amounts and identifies the differences as favorable or unfavorable variances. __ _ 3. Favorable variance The difference between the actual price of an item and its standard price. __ _ 4. Budgetary control Difference in sales or costs, when the actual value is compared to the budgeted value, that contributes to a higher income. __ _ 5. Flexible budget performance report Use of budgets by management to monitor and control the operations of a company. __ _ 6. Spending variance Difference between actual quantity of an input and the standard quantity of the input. __ _ 7. Overhead cost variance Difference between the total overhead cost applied to products and the total overhead cost actually incurred. __ _ 8. Unfavora ble variance A report that compares actual revenues and costs with their variable budgeted amounts based on actual sales volume (or other level of activity) and identifies the differences as variances. __ _ Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help
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A report that compares actual revenues
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