When budgeted and actual results are not the same amount, there is a budget a. error. b. difference. c. anomaly. d. by-product.

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: Briefly describe the type of human behavior problems that might arise if budget goals are set too…

A: Budget is a tool which is used in the planning and controlling process by estimating the revenue and…

Q: The benchmark subtracted from the actual account expense is known variance

A: Benchmark represents the standard set by the company to be achieved in the future. The variance…

Q: Over-absorbed overheads occur when: A. absorbed overheads exceed actual overheads. B. absorbed…

A: PLEASE GIVE A LIKE, YOUR RESPONSE MATTERS   From the above given options the correct answer is…

Q: The refers to a measure of acceptable performance established by management a guide in making…

A: The answer is option b standards

Q: Budgets are half-used if they serve only as a planning device? Explain.

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: How are budget variances calculated and used as performance measures? Provide numerical example?

A: budget is the predefined calculations that provide the plan of using the resources and generating…

Q: When comparing the static planning budget to actual activity, a problem that arises when actual…

A: Budget is the estimation of revenue and expense prior to start the operation. To manage the working…

Q: How does the static budget affect the cost and efficiency variances?

A: Definition:   Static budget: Static budget is a master budget that is prepared for only one level of…

Q: Variance analysis would be appropriate to measure performance ina. profit centers.b. investment…

A: Variance analysis is a method used in business and financial management to assess and analyze the…

Q: Using budgets as a performance benchmark is often since the actual performance will most likely…

A: Using budgets as a performance benchmark is often challenging or unreliable since the actual…

Q: Which of the following is not a reason standard costs are separated into two components?…

A: Standard cost: In the accounting records, the term standard cost refers to the practice of…

Q: The focus in capital budgeting is on   a. Favorable and unfavorable variance   b. Expenses under…

A: Capital budgeting :- It is process in which different long term investment proposal are evaluated…

Q: Distinguish among a​ budget, a performance​ report, and a variance.       Question content area…

A: Introduction:- Budgeting plays vital role in every organization or business or company or person. it…

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: A planning budget is prepared before the period begins and is valid for only the planned level of…

A: Answer 1: True. Answer 2: True.

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

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

Q: Two standards that are established for evaluating budget performance are the cost standard and the…

A: Ans. Cost standard measures deviation between the actual cost and standard cost.  Whereas,…

Q: The difference between the actual revenues and expenses and the master budget is known as a O A.…

A: Budgets are the estimates or forecasts that are made for future period. Budgets are compared with…