A type budgeting that \"explicitly i numbers\" is called. during the budgeted pe

Question

A type budgeting that "explicitly i numbers" is called. during the budgeted period into budget budgeting O Kaizen budgeting O both a &b; Onone of the above QUESTION 13 A variance is the difference between actual results and budgeted performance O True O False QUESTION 14 An actual cost of a product is O a predicted cost a direct cost O a historical cost O variable cost. QUESTION 15 Budgetary slack is the practice of "underestimating b statement is. O True O False budgeted revenues or overestina Click Save and Submit to save and submit. Click Save All Answers to save all Save All Answe

Explanation / Answer

The correct choice is : - both a & b

Explanation : -  Continuous improvement budgeting also called Kaizen budgeting, incorporates the continuous improvement process into the budgeting process. Based on improvement ideas from workers, budgets incorporate small , Continuous steps rather than revolutionary changes.

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13) The correct choice is True

Explanation : - Variance analysis compares actual performance with a budget or standard cost. Differences between actual results and the budget or standard are reported in monetary terms as variances.

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14) The correct choice is : A direct cost

Explanation : - An actualcosting system uses actual costs incurred for all product costs including direct materials, direct labor, and factory overhead.

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15) The correct choice is True

Explanation : - Budgetary slack occurs when managers intentionally underestimate budgeted revenues or overestimate budgeted expenses in order to make it easier to achieve budgetary goals.

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