The static budget, at the beginning of the month, for Divine Décor Company, follows: Static budget: Sales volume: 1 comma 200 units; Sales price: $ 70 per unit Variable costs: $ 32 per unit; Fixed costs: $ 38 comma 000 per month Operating income: $ 7 comma 600 Actual results, at the end of the month, follows: Actual results: Sales volume: 990 units; Sales price: $ 75 per unit Variable costs: $ 35 per unit; Fixed costs: $ 34 comma 700 per month Operating income: $ 4 comma 900 Calculate the flexible budget variance for sales revenue.

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

As a finance manager at allsports communication, charlie worries about the firm's borrowing requirements for the upcoming year. he knows the benefit of estimating allsports' cash disbursements and short-term investment expectations. facing these concerns, a(n) would provide charlie with valuable information by providing a good estimation of whether the firm will need to do short-term borrowing. capital budget cash budget operating budget line item budget

Amajor advantage of case studies is