Questions from Management Accounting

Q: Briefly explain why actions by the material purchasing manager can cause unfavourable

Briefly explain why actions by the material purchasing manager can cause unfavourable labour efficiency variances for the production manager.

Q: What is the cause of an unfavourable volume variance?

What is the cause of an unfavourable volume variance?

Q: Recently the Victorian Government introduced a solar rebate of $2500 for

Recently the Victorian Government introduced a solar rebate of $2500 for eligible home owners. How might such an initiative impact on the budget variances for a business that installs solar panels giv...

Q: Identify four revenue drivers.

Identify four revenue drivers.

Q: Why is the efficiency variance more useful for control purposes than the

Why is the efficiency variance more useful for control purposes than the price variance?

Q: Explain how accountants and managers decide which cost variances to monitor.

Explain how accountants and managers decide which cost variances to monitor.

Q: Discuss why the variable overhead spending variance does not just focus on

Discuss why the variable overhead spending variance does not just focus on price.

Q: How might the production volume variance encourage excess production?

How might the production volume variance encourage excess production?

Q: Discuss the ‘bookkeeping’ role of standard costing and its performance

Discuss the ‘bookkeeping’ role of standard costing and its performance role.

Q: Franklin Industries’ CEO was talking with the CFO about the appropriate standard

Franklin Industries’ CEO was talking with the CFO about the appropriate standard to use for the new product being launched in the coming year. The CEO argued that standards based on ideal performance...