Examlex
Experiments require all of the following except
Flexible Budgets
Flexible budgets are financial plans that can vary depending on actual levels of output, activity, or revenue, allowing businesses to adjust their spending and resources more dynamically.
Fixed Budgets
Financial plans that do not change over the budget period, regardless of changes in business activity.
Cost Variance
The difference between the budgeted or planned costs and the actual costs incurred.
Quantity Variance
A measure used in cost accounting to calculate the difference between the actual quantity of materials or labor used and the expected quantity.
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