You are required to read each statement carefully and present your agreement or disagreement

With the statement. You must support your answer with logical answers. Your answer should not

Exceed three statements for each statement.

a. It is important that ideal standards should be used as a benchmark for developing practical

Standards.

b. Every type of variance should be reported to the management for improving efficiency

Of the organizations operations.

c. The contribution margin is an alternative to the gross profit.

d. Total fixed cost remains the same but per unit variable cost changes.

e. Management accounting is not limited to the finance department. Scope of management

Accounting is in almost every department.