Which of the following is not reflective of zero based budgeting? a. budget is a 2%...
Which of the following is not reflective of zero based budgeting?
a. budget is a 2% increase over last year's budget
b. justify all proposed spending
c. helps avoid budget "fat"
d. budget starts with zero presumed need
2. A flexible budget is designed to accommodate changes in:
a. strategy
b. workload
c. department manager
d. mission
Homework Answers
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Which of the following is not reflective of zero based
budgeting?
a. budget is a 2%...
Consider the following statements about zero-base budgeting: I. The budget for virtually every activity in an...
Consider the following statements about zero-base budgeting: I. The budget for virtually every activity in an organization is initially set to the level that existed during the previous year. II. The budget forces management to rethink each phase of an organization's operations before resources are allocated. III. To receive funding for the upcoming period, individual activities must be justified in terms of continued usefulness to the organization. Which of the above statements is (are) true? A. II only. B. III...
12. Key motivational factors in budgeting do not include a. Training in the budget process b....
12. Key motivational factors in budgeting do not include a. Training in the budget process b. Correct identification of the blame for below budget performancse C The setting of fair, achievable standards The feedback of information 13. What is a flexible budget? a. A budget that does not change through the budget period b. A budget that shows a detailed of expected sales A budget that does not change as volume changers d.) A budget that adjusts for changes in...
1. The master budget A. Shows forecasted and actual results B. Reflects controllable costs only C....
1. The master budget A. Shows forecasted and actual results B. Reflects controllable costs only C. Can be used to determine manufacturing cost variances D. Contains the operating budget 2. The master (comprehensive) budget A. Shows the forecasted and actual results B. Reflects controllable costs only C. Can be used to determine manufacturing cost variances D. Contains both financial and operating budgets 3. Zero-base budgeting has which of the following as its objective? A. To base the current year's budget...
eted, total fixed costs should be higher than expected. If activity is lower than o included in a flexible budget b...
eted, total fixed costs should be higher than expected. If activity is lower than o included in a flexible budget because they do not change when the level of activity 10 Which of the following statements is true? A. If activity is higher than expected, total fixed cos expected, total fixed costs should be lower than expected B Fixed costs should not be included in a flexible bu changes. A revenue variance is favorable if the actual revenue is greater...
10 Which of the following statements is true? activity is higher than expected total fixed costs...
10 Which of the following statements is true? activity is higher than expected total fixed costs should be higher than expected. I civity is lower than expected, total fixed costs should be lower than expected Fixed costs should not be included in a flexible budget because they do not change when the level of activity changes. C A revenue variance is favorable if the actual revenue is greater than the revenue in the master (static planning) budget. A spending variance...
10 Which of the following statements is true? A f activity is higher than expected total...
10 Which of the following statements is true? A f activity is higher than expected total expected, total fixed costs should be lower than expectes desta shehehe sts should be higher than expected. I activity is lower than than expected ked costs should not be included in a rsible budest because they do not change changes, lexible budget because they do not change when the level of activity A revenue variance is favorable if th i c hen ther e...
Budgeting and Variance Analysis In an effort to better plan for and control OR costs, SHH management asked Jack to calculate the flexible budget variance (i.e., flexible budget costs - actual costs) f...
Budgeting and Variance Analysis In an effort to better plan for and control OR costs, SHH management asked Jack to calculate the flexible budget variance (i.e., flexible budget costs - actual costs) for OR nursing costs, including the price variance and efficiency variance. Given that Jack is interested in comparing the reported costs of both systems, he decided to prepare the requested OR variance analysis for both the current cost system and the vital-signs costing system. In addition, Jack chose...
Several years ago, Westmont Corporation developed a comprehensive budgeting system for planning and control purposes. W...
Several years ago, Westmont Corporation developed a comprehensive budgeting system for planning and control purposes. While departmental supervisors have been happy with the system, the factory manager has expressed considerable dissatisfaction with the information being generated by the system. A report for the company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Actual Planning Results Budget Machine-hours 15,000 20,000 Variances $ 9,300 $ 9,900 $ 600 F 32,200 34,500 2,300...
0. A company developed a standard cost for overhead. Which of the following involves standard development...
0. A company developed a standard cost for overhead. Which of the following involves standard development procedures that are similar to developing overhead standard costs? a. predetermined overhead rates b. Budgeted direct labor costs c. standard costs for materials d. total number of units to be produced 11. Which of the following may be cause an unfavorable material variance? 1. more material was used than planned 2. A company paid a higher price for materials than expected 3. More materials...
write up an essay on the problems in budgeting derived from the articles (i do Upvote...
write up an essay on the problems in budgeting derived from the articles (i do Upvote the answers ) Why Budgeting Kills Your Company HBSWK Pub. Date: Aug '1 1, 2003 Why doesn't the budget process work? Read what experts say about not only changing your budgeting process, but whether your company should dispense with budgets entirely. by Loren Gary The average billion-dollar company spends as many as 25,000 person-days per year putting together the budget. If this all paid...
12. Key motivational factors in budgeting do not include a. Training in the budget process b. Correct identification of the blame for below budget performancse C The setting of fair, achievable standards The feedback of information 13. What is a flexible budget? a. A budget that does not change through the budget period b. A budget that shows a detailed of expected sales A budget that does not change as volume changers d.) A budget that adjusts for changes in...
eted, total fixed costs should be higher than expected. If activity is lower than o included in a flexible budget because they do not change when the level of activity 10 Which of the following statements is true? A. If activity is higher than expected, total fixed cos expected, total fixed costs should be lower than expected B Fixed costs should not be included in a flexible bu changes. A revenue variance is favorable if the actual revenue is greater...
10 Which of the following statements is true? activity is higher than expected total fixed costs should be higher than expected. I civity is lower than expected, total fixed costs should be lower than expected Fixed costs should not be included in a flexible budget because they do not change when the level of activity changes. C A revenue variance is favorable if the actual revenue is greater than the revenue in the master (static planning) budget. A spending variance...
10 Which of the following statements is true? A f activity is higher than expected total expected, total fixed costs should be lower than expectes desta shehehe sts should be higher than expected. I activity is lower than than expected ked costs should not be included in a rsible budest because they do not change changes, lexible budget because they do not change when the level of activity A revenue variance is favorable if th i c hen ther e...
Several years ago, Westmont Corporation developed a comprehensive budgeting system for planning and control purposes. While departmental supervisors have been happy with the system, the factory manager has expressed considerable dissatisfaction with the information being generated by the system. A report for the company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Actual Planning Results Budget Machine-hours 15,000 20,000 Variances $ 9,300 $ 9,900 $ 600 F 32,200 34,500 2,300...
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