Aging is an important process when it comes to cheese making. When the cheese is all ready to go out, it is given a aging time. It is this aging period that defines the flavor, taste and aroma of any cheese. Edam cheese ages well and with time it is much better. Different cheese varieties have different aging periods.
This chapter introduces flexible budgets. The most common budgets prepared on a flexible basis focus on total production costs, or some measure of profitability, such as an income statement budget. Flexible budgets are useful for performance evaluation of cost and profit centers.
How and why a company should use a static budget, static budget variances, and flexible budgets. Static budget variances are the differences between what a company or individual thought it would spend in its budget versus what it actually did. In a static budget, a company or individual creates the budget for the entire period -- a year, a quarter, or any other amount of time -- and doesn't change the budget as time moves forward.