Assignment:

You are required to explain what a flexible budget is and how it differs from a master budget.

In addition, you must explain why it is important to evaluate managers using activity variances and revenue and spending variances rather than just comparing actual results to the static planning budget.

Criteria for the paper:

Must address the topics above.

Must have master and flexible budget descriptions.

Must be well-organized and written as a narrative.

Must have approximately 2 pages with an appropriate title and subheadings for paragraph. It should have logical paragraph breaks.

Must avoid writing errors, be spell checked, and use the correct punctuation.

No two papers should be identical.

You are required to use one credible source in addition to the textbook.

The sources you use must be cited.