Management accountants, during month-end close, compute and report variances including sales, wages, production output, cost of goods sold, cost of raw materials, and overhead costs variances. Such deviations from the budget are reported as either favorable or unfavorable to the organization's bottom line and performance. Using a financial institution such as a bank as an example, give possible causes for exceeding the budget. What could be the management's response to the reasons you cited?

BE DETAILED AND CLEAR.