The main functions of management accounting are planning, decision making, and control. Which of the following activities
Question:
The main functions of management accounting are planning, decision making, and control.
Which of the following activities best describes the planning function?
a. Mark Smith, the president of ABC Industries, analyzed cost data for ABC’s Toronto plant and determined that increasing costs were due to increases in material costs.
b. Anna Choy developed a 2012 budget for her division.
c. Noriyasu Tanaka, the financial officer for Great Homes Inc., prepared a variance report that compared actual costs to the budgeted costs for the year.
d. Amandeep Singh compared the costs of two different methods of producing Product A:
an automated method and a more labour-intensive method. Based on the information, Amandeep chose the automated method because it resulted in substantial cost savings.
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