Answer:
c. Allowing employees the opportunity to be a part of the budget process.
Explanation:
A budget is a plan on how a business will attain its profits objectives. It shows how a firm will allocate its scarce resources to various units to achieve its overall goals. A budget can be prepared on a bottom-up basis where each department sets its targets under the guidance of top management. The top management can also prepare the budget and pass it down to various units for implementation.
When a budget is prepared from bottom to top, employees get involved in the process. It makes them own the document and its objectives. The employees will feel motivated to work as a team to meet their targets. A budget indicates the direction where the business is heading. If employees are involved in the budgeting process, they will help management to steer the company in the intended direction.
Answer:
The statement is false. The correct option is B.
Explanation:
The statement is false because the product warranties are those warranties which are provided at the time of sale of the product but they are not expensed in the account in the period when the product is sold as these warranties are claimed by the customer when they face any defect in the product so it is uncertain in which year this will happen. So, they will be expensed when the customer will claim the product warranty.
Therefore, the correct option is B.
Answer:
Target Contribution margin=Fixed costs+Target profits
=(985500+1315000)=$2,300,500
Contribution margin=Sales-Variable costs
=(640-352)=$288 per unit
Hence target sales=$2,300,500/288
=7988(Approx)
Explanation:
Answer: C. Employee appraisals are primarily to generate data for management decisions.
Explanation:
Employee appraisals are done to see just how well the employee is doing in the company. It evaluates their skills in relation to what the job requires and their achievements for the period.
Looking at these appraisals helps management make key decisions such as whether to promote, fire or reassign employees so that the company can run more efficiently.