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Explain relations among standard costs and flexible budgets

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Question: 1. Van Way, Inc. specializes in selling used SUVs. During the first six months of 2011, the dealership sold 100 trucks at an average price of $10,000 each. The budget for the first six months of 2011 was to sell 90 trucks at an average price of $10,500 each. Compute the dealership's sales price variance and sales volume variance for the first six months of 2011.

2. What are the relations among standard costs, flexible budgets, variance analysis, and management by exception?

Reference no: EM131539628

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