Questions from Management Accounting

Q: Explain how the following budgets relate to each other: the revenue

Explain how the following budgets relate to each other: the revenue budget, the production budget, and the direct materials budget.

Q: How can budgeting assist an entity to efficiently use its human resources

How can budgeting assist an entity to efficiently use its human resources?

Q: What are the objectives of participative budgeting?

What are the objectives of participative budgeting?

Q: What methods do organisations use to minimise budgetary slack?

What methods do organisations use to minimise budgetary slack?

Q: What adjustments should be made to static budgets before they are used

What adjustments should be made to static budgets before they are used for management performance evaluation?

Q: What are some of the challenges that organisations face when allocating budget

What are some of the challenges that organisations face when allocating budget authority and responsibility?

Q: Describe the procedures used in job costing.

Describe the procedures used in job costing.

Q: Devon Ltd allocates support department costs using the direct method and estimated

Devon Ltd allocates support department costs using the direct method and estimated costs. The support department costs are budgeted at $88 000 for department A, $63 000 for dep...

Q: Explain how manufacturing overhead cost pools and cost allocation are related.

Explain how manufacturing overhead cost pools and cost allocation are related.

Q: List the most common allocation bases used in job costing and explain

List the most common allocation bases used in job costing and explain under what circumstances each base would be most appropriate.