Module 6 discussion Answer the core value questions and then pick one topic from each chapter to discussion following discussion guidelines and respond to two classmates: With the core values of...

Module 6 discussion

Answer the core value questions and then pick one topic from

each chapter to discussion following discussion guidelines and respond to two

classmates:

With the core values of responsible stewardship and

integrity in mind, discuss management’s responsibility for creating the master

budget. Additionally, discuss management’s incentives for understating revenues

and overstating expenses when creating budgets.

Chapter 22 –

1.Describe budgeting objectives, benefits, and procedures

and how human behavior influences budgeting

2.Define budget types and the components of the master

budget

Chapter 23 –

1.Prepare flexible budgets and performance reports using

static and flexible budgets with an example

2.Identify the benefits of a standard cost system and

understand how standards are set with an example

3.Compute the standard cost variances for direct materials

and direct labor using an example

4.Compute the standard cost variances for manufacturing

overhead using an example