Discussion Post: Master Budgeting & Flexible Budgets
I. Explain the components of a master budget and examine how managers use a master budget in decision making.
II. Explain and examine the process of preparing one of the following budgets: (i) production budget; (ii) direct materials budget; or (iii) direct labor budget.
III. Compare and contrast between a flexible budget and a static planning budget.
IV. Distinguish between revenue variance and spending variance. Give examples of each variance.
The response should include a reference list. One-inch margins, Using Times New Roman 12 pnt font, double-space and APA style of writing and citations.