Title: Module 3 Introduction: (CU2 M3) Flexible Budgets/Standard Cost Systems
Course: SkillsCom BA 213 15.0 > Section: Credit Unit 2 Module 3

Managing any company requires careful analysis and calibration of all business activities. Even small and seemingly insignificant changes can have an effect on the overall flow of the business--and it is these changes that a manager must look out for.

This chapter covers how businesses can account for these changes and maintain control--through flexible budgets and standard cost systems.

Module Outcomes:

- Determine how managers use budgets to control business activities.
- Explain why managers use a standard cost system to control business activities.
- Explain how standard costs determine direct materials, as well as direct and manufacturing labor variances.
- Determine the relationship among product cost variances.
- Differentiate between journal entries in a standard cost system.