Which of the following is true in a bottom-up budgeting approach?   Group of answer choices departments determine their needs and relate them to the overall goals supervisors tell departments their budget amount and the departments are free to work within those amounts departments budget their needs however they see it every expense needs to be justified

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: Budgets, Fixed Budgets and Flexible Budgets

A: Fixed Budgeting:The leased Institute of Management Accountants (UK) defines a hard and fast budget…

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: In fiscal management of an LRTC: Why should we justify the budget? How can we develop cost-effective…

A: As per our protocol we provide solution to the one question only but as you have asked multiple…

Q: Master budget is compiled of several operating budgets. Of these operating budgets, which budget…

A: the operating budget is such a statement that present the financial plan for each of the…

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

A: Budgeting is defined as the procedure of planning the manner in which the work to be conducted and…

Q: Since budgets affect many people in an organization, they can have significant behavioural…

A: Budgetary slack: The difference in the expected and the budgeted revenue/ expenditure is planned in…

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: Budgets

A: following statements is true.

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: 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: 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: Determine the budget for the department assuming that it uses flexible budgeting.

A: Direct labor cost per hour of production = Budgeted direct labor cost/ Budgeted production hours =…

Q: Help question 11

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

Q: Which of the following is true of a budget? O A. Budgets help managers to revise their plans and…

A: Introduction: Budget: Budget means an estimation for future period with past period data. Branches…

Q: WHEN EVALUATING EMPLOYEE PERFORMANCE AGAINST BUDGETS, WHICH OF THE FOLLOWING REPORTS WOULD BE THE…

A: The correct option is option a.

Q: A budget represents a target and aiming towards a target can be a powerful motivator. However,…

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

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

A:

Q: Discuss the factors that are likely to cause managers to submit budget estimates of sales and costs…

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

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: Which of the following is NOT an objective of the budgeting process? O a. To communicate…

A: Please see the next step for the solution

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: 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: 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: 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: Which of the following budgeting processes is LEAST likely to motivate managers toward…

A: Budget Process: The budget process assists the management by determining standards for the…

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: Information technology has made it easier for managers to perform all of the following tasks except…

A: Information technology made conducting of business easy. Due to introduction of various software's…

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: What are support departments, and why are their costs allocated to other departments?  What process…

A: Hi, since you have posted multiple questions, we are answering the 1st question for you. To get 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 not a benefit of a static budget performance report? O A. It is useful in…

A: A static budget report  is used to find sales and variable costs  over a period of time  and analyze…

Q: the advantages of

A: Participative Budgeting Participative budgeting is a budgeting process in which the people who are…

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: How do budgeted cost rates motivate the support-department manager to improve efficiency?

A:

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: 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…

Q: Which of the following budgeting processes aims to challenge the existing way of operating, by…

A: A zero-based budgeting process is a technique in which all the previous expenses are set as zero so…

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.