Information technology has made it easier for managers to perform all of the following tasks except a. preparing performance reports that identify variances between actual and budgeted revenues and costs. b. combining individual units’ budgets into the companywide budget. c. sensitivity analyses. d. removing budgetary slack from the budget.

Q: budgeting process

A: Definition: Budgeting process: It is a process which involves planning , monitoring, controlling…

Q: If a manager builds slack into a budget, how would that manager handle estimates of revenues and…

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

Q: What is the primary difference between a static budget and a flexible budget? a. The static budget…

A: The budget can be understood as a quantitative plan that acts as an estimate of future operation.…

Q: Benefits of Budgeting include all of the following EXCEPT: A) Promotes analysis of results B)…

A: Budgeting is the process of creating a strong plan to spend the funds of the organization. budgets…

Q: Which of the following statements is false? Select one: a. According to responsibility accounting,…

A: The appropriate statements are chosen as per their accuracy and correctness.

Q: When an organization involves its many employees in the budgeting process in a meaningful way, the…

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

Q: List the three key benefits companies get from preparing a budget. The budget allows managers to be…

A: An estimate of income and expenditure for a set period of time is called budget.

Q: Which of the following is not considered a benefit of the budgeting​ process?   a. Gives managers…

A:

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

A: A budget is a financial plan for a defined period, often one year. It may also include planned sales…

Q: A company can expect to receive which of the following benefits when it starts its budgeting…

A: Budgeting is the process of estimation of revenue and expenditure into the foreseeable future. It is…

Q: Explain the relationship between performance reports and flexible budgeting.

A:

Q: When budgets are used to evaluate performance and to set limits on spending, the process will often…

A: Budgets are the forecasts or estimates that are made for future period of time. Then performance is…

Q: Which of the following is an example of the planning function of the budgeting process? A. A budget…

A: Budgeting process: The process of streamlining the future expenditure process by predicting or…

Q: “The difference between practical capacity and master-budget capacity utilization is the best…

A: Practical Capacity:Companies adjust the theoretical capacity based on the potential disruptions like…

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: The following are advantages of budgeting, except Allocates resources of the company Define goals…

A: Lets understand the meaning and advantage of budgets. Budget is a estimation of income and…

Q: Describe your understanding of budgets, both fixed and flexible, in the context of controlling and…

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

Q: Help question 11

A: A budget means a financial plan. Budgeting is a process to prepare and communicate certain broad…

Q: A company can expect to receive which of the following benefits when it starts its budgeting…

A: Benefits when it starts budgeting process: The benefit of budgeting process is to compare the actual…

Q: The Zero Base Budget (ZBB) is the budget system that most influences resource allocation management…

A: SOLUTION EXPLANATION IN TRADITIONAL BUDGETING , THE TOP MANAGEMENT TAKES THE DECISIONS REGARDING ANT…

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: In a company with different business units, individual managers make decisions by changing various…

A: Sensitivity Analysis: Sensitivity analysis is a financial model that shows how modifications in…

Q: In comparison to static budgets, flexible budgets:  Offer managers a more realistic comparison of…

A: Budgeting: It is a process of planning the work to be performed. Under this process a formal plan is…

Q: Which of the following is not a benefit of budgeting? a. It sets some standards to evaluate…

A: Budgeting is the activity of planning of costs and expenses for an entity. It is one of the most…

Q: Slack in operating budgets makes an organization more efficient and effective. requires managers to…

A: Budgets are the forecasts or estimates that are made for future period of time. For the purpose of…

Q: How flexible budget through performance reporting is help for the management in determination of…

A: Budgeting refers to preparation of  estimated financial data using the past records. Flexible budget…

Q: The successful use o a budgeting system Acceptance and support by key management people. A sense of…

A: Accordingly, Option (d) i.e. inclusion of "budgetary slacks" in most budgets is the correct answer.

Q: Which one of the following is not considered to be a benefit of participative budgeting? When…

A: Budgeting - Budgeting is the estimation made by the managers of the organization based on the past…

Q: The purpose of a flexible budget is: a) To cap discretionary expenditure b) To produce a revised…

A: Flexible budget: A flexible budget is a budget that adjusts to the activity or volume levels of a…

Q: Which of the following statements relating to budgeting is NOT true? a) A budget is a formal…

A: The question is multiple choice question. Required  Choose the Correct Option.

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: Each of the following statements includes a pair of words within parenthesis. Indicate which of the…

A: Each of the following statements includes a pair of words within parenthesis. Indicate which of the…

Q: Out of the following options please tell me which are two dimensions or the main aspects of…

A: Budgeting is the process of making a plan for how person or organization will spend the money. A…

Q: Why does a company's budget need to be closely linked to the needs of good strategy execution? Why…

A: Because insufficient cash and other forms of resources hamper development and inhibit organisational…

Q: Which of the following is NOT true of the budgeting process?   Question 8 options:   Budgeting…

A: Solution Concept Budgeting process is the process of estimating the income and expenditure of the…

Q: An internal report that helps management compare actual performance and budgeted performance based…

A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

Q: Which of the following is true in a bottom-up budgeting approach?   a.Supervisors tell departments…

A: Management adapts the current year's budget to suit future objectives, making changes as needed.…

Q: The primary benefits of budgeting include all of the following except it Select one: O a. provides…

A: Budget is an estimation of expenses and revenues over a future period which needs to be rechecked…

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: Flexible budgets are used during which stage of the management process? * Planning Organizing…

A: Answer are as follows.

Q: Meaning of budget? Meaning and the sample budget for the following budgets: sales budget,…

A:

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.