Question: QUESTION 3 A. Budget variances is the differences between budgeted and the actual amounts. Discuss by giving examples what causes this variance and explain the

QUESTION 3

A. Budget variances is the differences between budgeted and the actual amounts. Discuss by

giving examples what causes this variance and explain the meaning of "management by

exemption".

(10 marks)

B. Explain the limitation for the management who used the budgetary control as performance

evaluation and measurement.

(10 marks)

MHT2133

QUESTION 4

A. The management used cost and efficiency standards to control the business activity. Explain

the differences between cost variance and efficiency variance by giving examples in product

cost.

(10 marks)

B. Explain the benefit of having a standard cost system.

(10 marks)

QUESTION 5

Managers usually follow a decision model for choosing among different courses of action.

Management accountants analyze and present relevant data to guide managers' decisions. Discuss

the five-step decision-making process by giving example where appropriate.

(15 marks)

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