ACG 2071 Exam 3 FSU Exam (2026) UPDATE
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Terms in this set (63)
Budgeting formula (all budgets) What goes out + ending inventory - beginning =
what you need
Price (Rate) Variance | AP-SP | x AQ
Usage (Efficiency) Variance | AQ-SQ | x SP
Price Variance + Usage Variance Flexible Budget Variance
, Master/Static Budget Variance Master Budget - Actual Results
Sales Activity (Volume) Variance Master Budget - Flexible Budget
Flexible Budget Variance Flexible Budget - Actual Budget
Ideal Standards What we can achieve under optimal circumstances
Practical Standards What we can achieve under normal/typical
circumstances
what we focus on
Easily Attainable Standards What can be achieved even if "shit hits the fan"
Decentralized Organizations Companies in which lower level managers have
been granted substantial authority
Cost Centers Try to keep costs as low as possible
Profit Centers In charge of both revenues and costs
Investment Centers Keep their eyes on invested capital
Revenue Centers Monitor the money coming into a company
ROI Income / Investment
How do you increase ROI (holding More Sales
all else constant) Less Costs
Less Investment
Increase income or decrease investment
Verified Questions And Answers | With 100%
Correct Answers graded A+ Guaranteed Success!!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (63)
Budgeting formula (all budgets) What goes out + ending inventory - beginning =
what you need
Price (Rate) Variance | AP-SP | x AQ
Usage (Efficiency) Variance | AQ-SQ | x SP
Price Variance + Usage Variance Flexible Budget Variance
, Master/Static Budget Variance Master Budget - Actual Results
Sales Activity (Volume) Variance Master Budget - Flexible Budget
Flexible Budget Variance Flexible Budget - Actual Budget
Ideal Standards What we can achieve under optimal circumstances
Practical Standards What we can achieve under normal/typical
circumstances
what we focus on
Easily Attainable Standards What can be achieved even if "shit hits the fan"
Decentralized Organizations Companies in which lower level managers have
been granted substantial authority
Cost Centers Try to keep costs as low as possible
Profit Centers In charge of both revenues and costs
Investment Centers Keep their eyes on invested capital
Revenue Centers Monitor the money coming into a company
ROI Income / Investment
How do you increase ROI (holding More Sales
all else constant) Less Costs
Less Investment
Increase income or decrease investment
