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5 Cards in this Set
- Front
- Back
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Balanced Scorecard critical factors(FICA)
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1. financial
2. internal business processes 3. customer satisfaction 4. advancement of innovation and HR development |
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Strategic Business Unit's 4 financial measures (performance objectives) for managers from lowest to highest (CRPI)
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1. cost
2. revenue 3. profit 4. investment (return on assets) - independent |
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Flexible budget allow you to adjust which factors?
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1. production
2. sales |
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The order budgets must be prepared
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1. Sales
2. Production & SG&A 3. DM , DL, OH 4. COGS 5. Cash (all budgets needed for this) |
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Calculated Efficiency Variance (DL)
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Step 1: Actual hours X standard rate only
Step 2: Actual units X standard hours x standard rate Step 3: Step 1 - Step 2 = variance (+ unfavorable, -favorable) |
