NOTE: Each question need 1 reference.

1- Every company strives to control costs to be competitive. Using the information you have learned thus far in the course, discuss how managerial accounting can contribute to cost control.Be specific.

2- Discuss the advantages and disadvantages of preparing a participatory master budget.

3- Managers use management by exception for control purposes..(1) Describe the concept.(2)Explain how standard costs help managers apply this concept to monitor and control costs.(3) Find a firm that utilizes management by exception and discuss their application.