Question: Part A What is the difference between a standard and budget? Give an example of both.(5 Marks) Part B Who is usually in the best

Part A

What is the difference between a standard and budget? Give an example of both.(5 Marks)

Part B

Who is usually in the best position to explain why the variances occurred? Explain your answer (5 Marks)

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Part A The difference between a standard and a budget is as follows Standard A standard is a predetermined quantitative measure of what a cost revenue ... View full answer

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