1. What is ABC Costing and how can it make a difference in the way a company prices its products?
2. Discuss the cost hierarchy categories. Why do we categorize cost this way?
3. Discuss the importance of making a budget.
4. Discuss the reason for budgeting in multinational companies.
5. Discuss the different types of Standards that are considered when dealing with variances.
6. What is a Flexible Budget? How is it realized? What is its function in term of variances? What is a Static Budget?
7. Discuss the three variance levels. What is the purpose of having these levels?
8. Discuss what is the significance of a Variable Overhead Flexible Budget Variance of $10,500 U?