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.
Describe benchmarking and how it can be used by managers in variance analysis. Based upon Bhimani, Horngren, Datar, Foster, Management and Cost Accounting, 4 th Edition, Â© Pearson Education Limited 2008Slide 2.2.5 Learning Objective 1 Describe the difference between a static budget and a flexible budget.tep 3: Determine the flexible budget for revenues based on budgeted selling price and actual quantity of output. â¬ 155 Ã 10,000 = â¬â¬1,550,000 Steps in Developing Steps in Developing Flexible Budgets (Continued).