management by exception”
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Managers who properly apply the concept called “management by exception” will: *
Investigate only favorable variances.
Investigate only unfavorable variances.
Investigate only variances of a certain size or scope.
Always investigate unfavorable and favorable variances regardless of size.
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- “Overhead variances should be viewed as interdependent rather than independent.” Give an example.Performance Eval Variances: Refer to the picture. Thank you!Explain what is meant by the term management by exception. What is the relationship between the process of standard cost variance analysis and management by exception? Give some examples, positive and negative of management by exception.
- Define unfavourable variance.In some cases, a favourable variance can be as bad or worse as an unfavourable variance.During the control function, the measurements taken of the performance must be accurate enough to see _______________________________. only positive results deviations and variances the primary focus only the negative results
