ACC 208: Chp 9

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spending variance

the difference between how much a cost should have been, given the actual level of activity, and the actual amount of the cost incurred.

PLanning budget

budget created at the beginning of the budgeting period that is valid only for the planned activity levels

Revenue Variance

the difference b/w how much the revenue should have been, given the actual level of activity, and the actual revenue for the period.

activity variance

the difference between a revenue or cost item in the static planning budget and the asme item in the flexible budget. An activity variance is due solely to the difference between the level of activity assumed int eh planning budget and the actual level of activity used in the flexible budget.

Flexible Budget

a report showing estimates of what revenues and costs should have been, given the actual level of activity for the period


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