The system that compares actual results to a budget so that significant
deviations can be flagged and investigated further is called management by
exception
Management by exception is the type that helps the managers to focus on
the most important variances while ignoring unimportant changes between
the budget and actual results.
This is commonly used in budgets preparation to ensure that the important
factors which may affect project completion are taken into consideration to
prevent shortages.
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Answer: 2.5
Explanation:
The Turnover (Asset Utilization) is calculated by dividing the business Turnover (Sales) by it's Assets.
We have the amount of assets (Investment). Now we have to calculate the Sales.
The Net Income was 12.5% of $100,000 so solving for that would be,
= 0.125 * 100,000
= $12,500
$12,500 was the Net Income.
It was said that the Net Income was 5% of sales so using algebra we have,
12,500= 0.05x
x = 12,500/0.05
= $250,000
With sales of $250,000 we can calculate the Turnover as,
Asset Turnover = Sales / Assets( Investment)
= 250,000/100,000
= 2.5
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