1 . G i v e   t h r e e   p o s s i b l e   c a u s e s   o f   a n   a d v e r s e   d i r e c t   l a b o r   e f f i c i e n c y   v a r i a n c e .  2 . E x p l a i n   h o w   y o u   w o u l d   i d e n t i f y   w h i c h   v a r i a n c e s   t o   i n v e s t i g a t e 3 . W h a t   i s   t h e   f i n a n c i a l   p l a n n i n g   p r o c e s s ?   C o n t r a s t   l o n g - t e r m   ( s t r a t e g i c )   f i n a n c i a l   p l a n s   a n d   s h o r t - t e r m   ( o p e r a t i n g )   f i n a n c i a l   p l a n s .  4 . W h a t   i s   t h e   p u r p o s e   o f   t h e   c a s h   b u d g e t ?   W h a t   r o l e   d o e s   t h e   s a l e s   f o r e c a s t   p l a y   i n   i t s   p r e p a r a t i o n ?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1 . G i v e   t h r e e   p o s s i b l e   c a u s e s   o f   a n   a d v e r s e   d i r e c t   l a b o r   e f f i c i e n c y   v a r i a n c e . 

2 . E x p l a i n   h o w   y o u   w o u l d   i d e n t i f y   w h i c h   v a r i a n c e s   t o   i n v e s t i g a t e

3 . W h a t   i s   t h e   f i n a n c i a l   p l a n n i n g   p r o c e s s ?   C o n t r a s t   l o n g - t e r m   ( s t r a t e g i c )   f i n a n c i a l   p l a n s   a n d   s h o r t - t e r m   ( o p e r a t i n g )   f i n a n c i a l   p l a n s . 

4 . W h a t   i s   t h e   p u r p o s e   o f   t h e   c a s h   b u d g e t ?   W h a t   r o l e   d o e s   t h e   s a l e s   f o r e c a s t   p l a y   i n   i t s   p r e p a r a t i o n ? 

W i l l i n g   t o   g i v e   g o o d   f e e d b a c k 

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