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Standard costing and budgeting systems create variances which enables managers to use management by exception principles. Which of the following is true about management by

Standard costing and budgeting systems create variances which enables managers to use management by exception principles. Which of the following is true about management by exception?

A.

Is the same as managing by walking around, which was pioneered by the Japanese.

B.

Material price variances can be ignored unless exceptionally high.

C.

Variances reduce the number of data points a manager must consider each day.

D.

In a union facility, labor usage variances are not controllable.

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