Variances help management control costs

Assignment Help Business Management
Reference no: EM132890023

Question

Why is the identification of favorable and unfavorable variances so important to a company? How can the identification of the variances help management control costs? Please explain.

As you are considering the flexible budgeting topic, it is important for you to look at this analysis as a significant contribution to the management of the company. Knowing what the bottom line profit or loss is important. But what is more important is to understand how your actual results varied in terms of units sold versus how the actual cost of each unit differed from the budget.

Reference no: EM132890023

Questions Cloud

What journal entry will Lark record at the end of the year : What journal entry will Lark record at the end of the current year, given the following information - The expense recognized previously was $100,000
Determine the amount of loss that Wells should recognize : Based on the previous information, prepare a schedule to determine the amount of loss that Wells should recognize for the current year
Should organisations evaluate such a commitment : Why should an organisation be committed to workforce diversity and inclusivity? Should organisations evaluate such a commitment? Consider and examine.
Mainting core values-the case of nau : What benefits might result from becoming a part of a larger organization? How does globalization affect Nau's business strategy?
Variances help management control costs : Why is identification of favorable and unfavorable variances so important to company? How can the identification of the variances help management control costs?
Outline the essential responsibilities of that role : Discuss a formal role where a nurse is in a position of leadership. Outline the essential responsibilities of that role and the educational preparation
What would order for the patient : What would you order for this patient, and what do you think you would find? 66-year-old female patient comes to your clinic with a PMH of Hypertension.
Write down ten ways to motivate employees more than money : Q1? Write down ten ways to motivate your employees more than money.
Why study of international hrm has become so important : Why study of International HRM has become so important in today's context? Analyse and explain with suitable examples.

Reviews

Write a Review

Business Management Questions & Answers

  Management theories-principles over time

List 5 key management theories/principles over time? Who developed these strategies and what was the outcome of each?

  What are the stakeholder theory for leadership program

What are the stakeholder theory for leadership program. Like how the stakeholder theory can support this leadership program.

  Install the appropriate drivers as necessary

Install the appropriate drivers as necessary for the video card, network interface card, and sound devices.

  Formal business communications

What role do you feel more traditional writing continues to play in today's business world? Is there still a role for formal business communications?

  Break-even analysis

Looking for a 300 short essay on what is a break-even analysis for a recording studio in Atlanta and how you can improve break even point.

  Gasoline equilibrium quantity and price

Discuss the effects falling oil and gas prices on the gasoline equilibrium quantity and price; and, (b) what price do you expectregular gasoline will be in Pullman WA on October 15, 2015 and on December 15, 2015 and explain why.

  Discuss a company approach to strategic management

1. Discuss a company's approach to strategic management of knowledge and organisational learning.

  What happens when money moves everything

What sort of impact do economics and business have on an individual's "values"? What happens when money moves everything (e.g. cultural, political, and moral)?

  Structure play in a dysfunctional work environment

What role does organizational structure play in a dysfunctional work environment?

  Benefitsdrawbacks of team interviewsfor instance1 three to

benefitsdrawbacks of team interviewsfor instance1 three to four people will review the applications and make

  Decline of sale of well-known cell phone company - nokia

BUSN20016 - Decline of sale of Well-known Cell phone company NOKIA in the market - An Analysis of the Factors Impacting for the Decline of Volume of Sales

  Global strategic management discussion board

Global Strategic Management discussion board - What could GM learn about our needs as auto buyers that would assist them in growing their market share domestica

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd