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jasminder Singh
on Nov 19, 2024

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Actual costs are determined by plugging the actual level of activity for the period into the cost formulas used in flexible budgets.

Actual Costs

The genuine expenses incurred in the production of goods or delivery of services, measured after they occur.

Cost Formulas

Mathematical equations used to calculate the costs associated with different accounting and financial practices.

Flexible Budgets

Budgets that are designed to vary in accordance with changes in the level of activity or output, to provide more accurate costing and planning.

  • Scrutinize the impact of present levels of activity on forecasts for fiscal disbursements and income.
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Kimberly BeltranNov 19, 2024
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