Flexible budgets are used during which stage of the management process? * Planning Organizing Implementing Controlling Evaluation 2. What kind of variance results from a difference between the planning budget and the flexible budget ? * Spending Activity Pre-determined Evaluation none of the above

Q: Top-down budgeting is preferred to a bottom-up approach, especially to monitor controllable costs.…

A: In a top-down budgeting approach, the budget is created by the top management of the company and…

Q: 1 Which of the following variances would be useful in calling attention to possible problems in the…

A: Detailed explanation: Understanding Overhead Variances:Overhead costs are the indirect costs of…

Q: Your supervisor asks you to produce a budget variance report. Using the most common definition of…

A: Budget variance report is an important management tool to manage the performance of the business…

Q: Which of the budgets listed below is best for managers to use when planning revenues and expenses at…

A: Budget reflects the estimated figures of revenues and expenses over a specified period of time

Q: Explain what you understand by Budgets, Fixed budgets and Flexible budgets in the context of control…

A: Organizations produce budgets for a variety of purposes, including cost control, performance…

Q: Which of the following statements is true? I. A revenue variance is unfavorable if the revenue in…

A: Revenue variance is the variance between actual revenue and the expected or budgeted revenue. It…

Q: Which one of the following statements regarding the difference between a flexible budget and a…

A: A flexible budget provides cost allowances for different levels of activity, but a static budget…

Q: Responsibility reports should be simple, show variances between the budgeted and actual amounts of…

A: Responsibility reports is a system of preparation of reports for each level of responsibility in the…

Q: computed in requirements 1 and 2. Was the new service a success from an overall cost-control…

A: It is  important to understand the reason of variance and the nature of various that will affect…

Q: Estimating the effects of changes in budget assumptions, such as determining the impact of an…

A: BUDGET : It is an estimation of REVENUE and EXPENSES. The factors affecting the budgets are…

Q: indicate yes if it describes a potential benefit of budgeting orno if it describes a potential…

A:

Q: When would a static budget be effective in evaluating a manager performance

A: We know that budgeting is a planning tool through with entities define a predefined target for…

Q: Based on the content of this module, what advice would you give to someone starting out with…

A: Variance analysis is used to identify the variations between data or figures of two balances of the…

Q: Describe how nonoutput-based cost drivers can be incorporated into budgeting.

A: Budget: The budgeting is a process of preparing budgets and the evaluation of it to see whether the…

Q: 1. The organizational process of budgeting performs several important functions. Which is true? A.…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Styles Edi 8. Which of the following is the best way to compensate for inadequate segregation of…

A: In this question, there are multiple questions but we solved only the 1st question as per…

Q: Which of the following budgetary variances is a health services manager most likely to be held…

A: Differences between an organization's actual performance and its anticipated or projected financial…

Q: Johnson Electrical produces industrial ventilation fans. The company plans to manufacture 66,000…

A: An organization's performance report serves as a tool for defining and assessing its overall…

Q: Ma1. Which of the following statements is true?   A. Budget reports comparing actual results with…

A: Making a budget seems to be a critical component of your successful achievement and stability. It…

Q: What are the two main activities involved in budgetin Detailing No answer text provided. Preparing…

A: A budget is a financial plan that outsides an organization's expected income. and expenses for a…

Q: Which of the following describe the control aspect of the budgeting process? Please select all that…

A: The control aspect of the budgeting process refers to the steps taken to monitor actual results and…

Q: Which ONE of the following is true?   a. Assume all costs are fixed when creating a flexible…

A: A flexible budget is a financial plan that adjusts or flexes to changes in the level of activity or…

Q: Which of the following is a basic element of effective budgetary control?a. cost behavior patternsb.…

A: Budgeting is a process that involves estimation of total costs and revenues of a firm over a…

Q: Which of the following is not the key purpose of budget:

A: A budget is a financial plan that outlines the projected income and expenses of an organization for…

Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.