Questions from Managerial Accounting

Q: How are first, second, and third levels of variance analysis

How are first, second, and third levels of variance analysis related?

Q: “If more experienced workers work on the job than were planned

“If more experienced workers work on the job than were planned when developing the labor standards, the labor efficiency variance is likely to be favorable, but the labor rate variance is likely to be...

Q: What are some criticisms of the traditional budgeting model?

What are some criticisms of the traditional budgeting model?

Q: Discuss whether the Balanced Scorecard strategy map approach is a performance measurement

Discuss whether the Balanced Scorecard strategy map approach is a performance measurement system, a management system, or both.

Q: What are two fundamental ways in which the beyond budgeting approach differs

What are two fundamental ways in which the beyond budgeting approach differs from traditional budgeting?

Q: How does a family’s budget differ from a budget developed for an

How does a family’s budget differ from a budget developed for an organization?

Q: What is the difference between an operating and a financial budget?

What is the difference between an operating and a financial budget?

Q: Would a labor hiring and training plan be more important in a

Would a labor hiring and training plan be more important in a university that is hiring faculty members, or a municipal government office that hires casual workers to do unskilled work? Why?

Q: What is a demand forecast? Why is it relevant in budgeting

What is a demand forecast? Why is it relevant in budgeting?

Q: Are food costs in a university residence cafeteria a variable cost or

Are food costs in a university residence cafeteria a variable cost or a capacity-related fixed cost? Briefly explain.