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During month-end or quarter-end close, management accountants compute and report several variances in the general ledger accounts such sales, wages, production output, cost of goods
During month-end or quarter-end close, management accountants compute and report several variances in the general ledger accounts such sales, wages, production output, cost of goods sold, raw materials and overhead costs accounts. Such variances are reported as either favorable or unfavorable to the company's budget and other non-budgetary performance metrics. (i) Using an organization you know as an example, discuss two possible causes of variances in the Sales, Wages and/or Production Output budgets in any particular month or quarter. (ii) Provide some practical solutions to the possible causes you cited
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