24. Which of the following is an advamtags of the budtin B) Budgeting provides a benchmark or pertoman C) Budgeting improves communication and D) all of the above. E) A and B above. provides resource alocation 25. Smith Manufacturing has 27,000 labor hours available for following information: produding XwY.C Required labor time per unit (hours) Maximum demand (units) 6,000 800 $5.00 $6. Contribution margin per unit If Smith follows proper managerial accounting practices, which of the folowing schedules should the company ser? Product XrotY A. 0 units B. 1,500 units C. 6,000 units D. 6,000 units 8,000 units 8,000 units 5,000 units 0 units 26. The term "management by exception" is best defined as: A. choosing exceptional managers. B. controlling actions of subordinates through acceptance of management techniques C. investigating unfavorable variances. D. devoting mana gement time to handle significant variances. 27. Which of the following best defines the concept of a relevant cost? A) A past cost that is the same among alternatives. B) A past cost that differs among alternatives. C) A future cost that is the same among alternatives D) A future cost that differs among alternatives. E) None of the above is correct. Da