Managers use management by exception for control purposes. (1) Describe the concept of management by exception. (2)
Question:
(1) Describe the concept of management by exception.
(2) Explain how standard costs help managers apply this concept to monitor and control costs.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
1 Management by exception involves managers focusing on the most signi...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Explain how standard costs and flexible budgets can be used for short-term profit analysis, i.e., for financial control purposes.
-
Describe the concept of variability, and relate how it helps in the description of responses to a particular question on a questionnaire.
-
How would you describe the concept of creativity? What are the characteristics that aid a person in being creative?
-
Solve the Given Requirements by using this Equation: Tangent Lines and Derivatives. x + cos y = 1 a) Find dy b) Evaluate at dx c) Draw the tangent line at 35 1 y = 0 -1 -2 05 1.5 d) Write the...
-
"The net present value method is the preferred method for capital budgeting decisions. Therefore, managers will always use it." Do you agree? Explain.
-
Call Premium A 5.5 percent corporate coupon bond is callable in ten years for a call premium of one year of coupon payments. Assuming a par value of $1,000, what is the price paid to the bondholder...
-
Explain the different contributors in the fashion editorial. LO.1
-
Rode Inc. incurred a net operating loss of $500,000 in 2010. Combined income for 2008 and 2009 was $350,000. The tax rate for all years is 40%. Rode elects the carry back option. Prepare the journal...
-
The following information relates to Good Kitchen Ltd's inventory transactions during the month of March. Cost/Unit $19.00 Amount $115,900 Mar. 1 7 12 16 18 27 29 Beginning inventory Sale Purchase...
-
Dwight Donovan, the president of Donovan Enterprises, is considering two investment opportunities. Because of limited resources, he will be able to invest in only one of them. Project A is to...
-
For the current period, Roja Companys manufacturing operations yield an $8,000 unfavorable price variance on its direct materials usage. The actual price per pound of material is $156; the standard...
-
Gohan Companys output for the current period yields a $12,000 favorable overhead volume variance and a $21,500 unfavorable overhead controllable variance. Standard overhead charged to production for...
-
Perform the indicated operations. 3b [3a (a 3b)] + 4a
-
Low Desert Pottery works makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to...
-
ASSESSMENT CPCCBC5002A Monitor costing systems on medium rise building and construction projects Please provide answer to Part 2 - Monitor expenditure for a medium-rise project as per below...
-
Questions 6-8 refer to the same problem A sinusoidal wave with wavelength 2 m and amplitude 5 mm is traveling along the x axis. The wave is traveling in the -x direction at a speed of 2m/s At t = Os,...
-
Consider a circuit where one or more capacitors is discharged through a light bulb filament with a resistance of 3.0 0.3 . Assume that the resistance of the filament is constant (to within the stated...
-
3. For a vibrating string of length with fixed ends, each mode of vibration can be written as where wk ux(x, t) = M* sin(wxt + k) sin(x) and Mk, Ok are determined by initial conditions. For all k >...
-
Journalize the entry for the deposit of employees state income taxes withheld.
-
Suppose the S&P 500 futures price is 1000, = 30%, r = 5%, = 5%, T = 1, and n = 3. a. What are the prices of European calls and puts for K = $1000? Why do you find the prices to be equal? b. What...
-
Is the set H from Problem 56 closed for the operation of ? Data from problem 56 Consider a soldier facing in a given direction (say, north). Let us denote
-
Access Samsungs financial statements in Appendix A. Required 1. Identify and enter the 2016 and 2017 sales (in millions) into a table for Samsung. 2. Assume that at the end of 2016 we estimate...
-
Away, as discussed in the chapter opener, uses a costing system with standard costs for direct materials,direct labor, and overhead costs. Two comments frequently are mentioned in relation to...
-
__________costs are not within the managers control or influence.
-
Calculate Social Security taxes, Medicare taxes and FIT for Jordon Barrett. He earns a monthly salary of $11,100. He is single and claims 1 deduction. Before this payroll, Barretts cumulative...
-
Bass Accounting Services expects its accountants to work a total of 26,000 direct labor hours per year. The company's estimated total indirect costs are $ 260,000. The company uses direct labor hours...
-
The Balance Sheet has accounts where the accountant must make estimates. Some situations in which estimates affect amounts reported in the balance sheet include: Allowance for doubtful accounts....
Study smarter with the SolutionInn App