1. Why it is important to get input from the sales manager in preparing a master budget? 2. What is the method of preparing a flexible budget? 3. Differentiate between static and flexible budget

Q: Managers should be closely involved in preparing their responsibility accounting budget. How true is…

A: Generally, managers should be involved in preparing their responsibility accounting budget.

Q: Describing master budget components Sarah Edwards, division manager for Pillows Plus, is speaking to…

A: Master budget: Master budget is an interrelated budget that collectively summarizes all the planned…

Q: Various types of budgets facilitate understanding about the big picture of a business. There are…

A: Budget A budget is the estimate of incomes and expenses over a specified period. A budget helps in…

Q: Is it really vital for a manufacturing company to prepare a budgeted income statement and balance…

A: A budgeted income statements statement that forecasts earnings, revenue, and expenses for the coming…

Q: ‘Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…

A: A budgeting system helps an organization to plan and decide the amount to be spent in a particular…

Q: 1. Budgets can have a positive or negative effect on human behavior depending on the manner in which…

A: A budget is a financial structure or plan which are prepared based on historical and current…

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: Discuss why the production quantities that are prescribed in the production budget should be…

A: The sales budget is prepared to ascertain the projected sales during the coming period, on the basis…

Q: . what is a budget, and what are the different types of budgets? b. what operating budget exists…

A: a. Budgets are a condensed way of generating estimates or plans at various levels of sales in…

Q: Which budget is prepared first? Which budget is last? Multiple Choice Production Budget and Income…

A: Budget is prepared by the management on the basis of past experience. On the basis of the budget, It…

Q: Which of the following is least likely to affect the preparation of the purchases budget? A.The…

A: Purchase Budget: A purchases budget specifies the amount of inventory that a company is required to…

Q: The first step of the budget process is: plan direct control feedback Static budget are often used…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: When generating a master budget, what schedule created first?   A. Production Budget   B. Sales…

A: Master Budget is summation of all budgets at lower functional level of organization.

Q: Assume that Samsung’s consumer electronics division is charged with preparing a master budget.…

A: Master budget: Master budget is an interrelated budget that collectively summarizes all the planned…

Q: Which of the following is true in a bottom-up budgeting approach?   Group of answer choices…

A: Bottom-Up Budgeting Approach : It is one type of budgeting which starts from Bottom Departmental…

Q: What are the major objectives of budgeting? Briefly describe the type of human behavior problems…

A: 1. Objectives of budgeting: Anticipation of future financial condition and future needs for funds…

Q: difference between a flexible budget and a static budget?

A: A budget can be defined as an estimation or forecast of the income, revenue, and expenses for a…

Q: Identify the main purpose of a flexible budget for managers.

A: Flexible Budget: A flexible budget is a budget that is prepared for different levels of the output.…

Q: Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…

A: A budgeting system helps an organization to plan and decide amount to be spent in a particular…

Q: Is it really vital for a manufacturing company to prepare a budgeted income statement and balance…

A: A budgeted income statements statement that forecasts earnings, revenue, and expenses for the coming…

Q: manager

A: What Is a cash Budget?A cash budget is Associate in Nursing estimation of the money flows of a…

Q: How does management use an operating budget?

A: All companies, large and small, have limits on the amount of money or resources they can receive and…

Q: 'Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…

A: Budgeting is a process to prepare the financial statement by the manager to estimate the…

Q: Explain the advantages of encouraging employee participation in budget setting. 2.Explain why zero…

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: The implementation of budgeting in a world class manufacturing environment may be affected by the…

A: Principles of each strategy and their effects in budgeting as compared to traditional budgeting: (i)…

Q: In preparing a Master Budget, the starting point and the first budget to be prepared is usually the…

A: The production budget is related to the estimated units to be manufactured or produced considering…

Q: 4. Why is the preparation of a sales forecast one of the earliest steps in preparing a master…

A: In preparing a master budget, the preparation of the sales budget is an early step. This is because…

Q: Which of the following statements is not correct?   The revenue budget is the starting point in…

A: Budget: Budget is the process of identifying, collecting, and summarizing the financial information.…

Q: Which of the following statements is NOT correct? a. The cash budget must be prepared prior to the…

A: Cash Budget: A cash budget is a forecast of a company's cash flows over a set period of time. This…

Q: master-budget

A: following budgets is based on many other master-budget components.

Q: When developing a budget we focus first on sales. Why do be begin with sales? What are some of the…

A: Budgeting is the process of estimating the revenues, expenses and profitability of the business for…

Q: 1. Which of the following is true? a) The direct materials purchase budget is determined from the…

A: As per the honor code, We’ll answer the first question since the exact one wasn’t specified. Please…

Q: Which of the following statements is NOT true?

A: A budget is a document that consists of forecasted income that will be earned and expenditures…

Q: Understanding the components of the master budget The following are some of the components included…

A: Master Budget:   It includes budget plan for Purchases, production, sales, variable and fixed…

Q: Which of the following is NOT true about Budgets? A) Budgets start with the Sales Budget B) The Cash…

A: The budget is an estimate prepared to determine the income that will be earned and expenses that…

Q: How do managers use budgets to control business activities? a) Match the concept (by number) to the…

A: As per the guidelines, only one question is allowed to be answered. Please upload different…

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.