(1) Concept introduction: Discrepancy (variance) analysis is the measurable examination of the variation between real and intended performance. This analysis is used to preserve control over a business. Journal entries of the company’s costs and discrepancy (variance) for the month of December.

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Answer 1

Question

Chapter 8, Problem 6PSA

To determine

(1)

Concept introduction:

Discrepancy (variance) analysis is the measurable examination of the variation between real and intended performance. This analysis is used to preserve control over a business.

Journal entries of the company’s costs and discrepancy (variance) for the month of December.

To determine

(2)

Management by exception is the exercise of probing the financial and working results of a business, and only bringing issues to the notice of management if the results correspond to significant differences from the forecasted or ordinary amount.

To explain:

Action manager considers who uses Management by exception. Also, identify the variances used by them.

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Answer 2

Question

Chapter 8, Problem 6PSA

To determine

(1)

Concept introduction:

Discrepancy (variance) analysis is the measurable examination of the variation between real and intended performance. This analysis is used to preserve control over a business.

Journal entries of the company’s costs and discrepancy (variance) for the month of December.

To determine

(2)

Management by exception is the exercise of probing the financial and working results of a business, and only bringing issues to the notice of management if the results correspond to significant differences from the forecasted or ordinary amount.

To explain:

Action manager considers who uses Management by exception. Also, identify the variances used by them.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 8, Problem 6PSA

To determine

(1)

Concept introduction:

Discrepancy (variance) analysis is the measurable examination of the variation between real and intended performance. This analysis is used to preserve control over a business.

Journal entries of the company’s costs and discrepancy (variance) for the month of December.

To determine

(2)

Management by exception is the exercise of probing the financial and working results of a business, and only bringing issues to the notice of management if the results correspond to significant differences from the forecasted or ordinary amount.

To explain:

Action manager considers who uses Management by exception. Also, identify the variances used by them.

Expert Solution & Answer

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Answer 4

Question

Chapter 8, Problem 6PSA

To determine

(1)

Concept introduction:

Discrepancy (variance) analysis is the measurable examination of the variation between real and intended performance. This analysis is used to preserve control over a business.

Journal entries of the company’s costs and discrepancy (variance) for the month of December.

To determine

(2)

Management by exception is the exercise of probing the financial and working results of a business, and only bringing issues to the notice of management if the results correspond to significant differences from the forecasted or ordinary amount.

To explain:

Action manager considers who uses Management by exception. Also, identify the variances used by them.

Expert Solution & Answer

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Answer 5

Chapter 8, Problem 6PSA

To determine

(1)

Concept introduction:

Discrepancy (variance) analysis is the measurable examination of the variation between real and intended performance. This analysis is used to preserve control over a business.

Journal entries of the company’s costs and discrepancy (variance) for the month of December.

To determine

(2)

Management by exception is the exercise of probing the financial and working results of a business, and only bringing issues to the notice of management if the results correspond to significant differences from the forecasted or ordinary amount.

To explain:

Action manager considers who uses Management by exception. Also, identify the variances used by them.

Answer 6

Chapter 8, Problem 6PSA

To determine

(1)

Concept introduction:

Discrepancy (variance) analysis is the measurable examination of the variation between real and intended performance. This analysis is used to preserve control over a business.

Journal entries of the company’s costs and discrepancy (variance) for the month of December.

Answer 7

Chapter 8, Problem 6PSA

To determine

(1)

Concept introduction:

Discrepancy (variance) analysis is the measurable examination of the variation between real and intended performance. This analysis is used to preserve control over a business.

Journal entries of the company’s costs and discrepancy (variance) for the month of December.

Answer 8

To determine

(2)

Management by exception is the exercise of probing the financial and working results of a business, and only bringing issues to the notice of management if the results correspond to significant differences from the forecasted or ordinary amount.

To explain:

Action manager considers who uses Management by exception. Also, identify the variances used by them.

Answer 9

To determine

(2)

Management by exception is the exercise of probing the financial and working results of a business, and only bringing issues to the notice of management if the results correspond to significant differences from the forecasted or ordinary amount.

To explain:

Action manager considers who uses Management by exception. Also, identify the variances used by them.

Answer 10

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Answer 11

Expert Solution & Answer

Answer 12

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Answer 13

Ch. 8 - Prob. 1MCQ Ch. 8 - Prob. 2MCQ Ch. 8 - Prob. 3MCQ Ch. 8 - A Company’s standard for a unit of its single...Ch. 8 - Prob. 5MCQ Ch. 8 - Prob. 1DQ Ch. 8 - Prob. 2DQ Ch. 8 - Prob. 3DQ Ch. 8 - Prob. 4DQ Ch. 8 - Prob. 5DQ

(1) Concept introduction: Discrepancy (variance) analysis is the measurable examination of the variation between real and intended performance. This analysis is used to preserve control over a business. Journal entries of the company’s costs and discrepancy (variance) for the month of December.

Solution Summary: The author explains that management by exception is the exercise of probing the financial and working results of a business, and only bringing issues to the notice of management.

Concept explainers

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(1)

Concept introduction:

Discrepancy (variance) analysis is the measurable examination of the variation between real and intended performance. This analysis is used to preserve control over a business.

Journal entries of the company’s costs and discrepancy (variance) for the month of December.

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Chapter 8 Solutions