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What is Budgetary control
Budgetary control is the process of determining various budgeted figures for the enterprises for the future period and then comparing the budgeted figures will enable the managing to the actual performance for calculated variances, if any. First of all budget are prepared and then real results are recorded the comparison of budgeted and real figures will enable the management to search out discrepancies and take remedial measures at a proper time. The budgetary control is a continuous process which helps in planning and co ordination. It provides a method of control too. A budget is a means and budgetary control is the end result.
Kibble Company had the following functional income statement for the month of July 2011: Kibble Company Functional Income Statement For the Month Ending July 31, 2011 Sales ($40 x
Stock-out costs These are the opportunity costs of running out of stock. They comprise: 1) The costs of lost customer sales, and therefore lost contribution to fixed costs.
Coleman, a married taxpayer, is going to establish a manufacturing business. He anticipates that the business will be profitable immediately due to a patent he holds. He predicts t
After determining the amount of working capital as in above, a specific amount say 5 percent or 10 percent may be added to cover contingencies. This is to be noted that facts depen
Requirements of a good budgeting system Following are the requirement of a good budgeting system: 1) Budgeting process should be backed and supported by the chief executive
Decide which costs are associated with the assignment of cost for a Job Order Costing System. Select all that apply. cost graphs (Points : 1) Raw materials are used
When the stock market is going up over a long period of time, investors can become complacent about the risks of being a stockholder. After the significant decline of the stock mar
Human behavior and budgetary control An important feature of control in business is that control is exercised by managers over people. Their attitudes and response to budgetary
Problem Marginal costing plays a major role in making certain decisions. It provides information to management regarding the behaviour of costs and the incidence of such costs
Consider the following quality data for three different manufacturers of automobile weather-strips: Weather-strip Bulb Dimension Specification y=20 +or- 4mm
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