Question

Management by exception means that managers focus attention on the most significant differences between costs and costs.Listen to the complete question

Answer 1

Management by exception means that managers focus on the most significant differences between actual costs and standard costs

What is Management by Exception?

This refers to the business style that focuses on the identification of cases that are abnormal in a business and making recommendations on the best practice to solve them.

Hence, we can see that management by exception means that managers focus on the most significant differences between actual costs and standard costs.

One of the main disadvantages of management by exception is the problem of time wasted investigating a large number of variances if the proposed budget has some problems with the formulation.

Therefore, management by exception means that managers focus on the most significant differences between actual costs and standard costs

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