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Mike Trusler has prepared the following list of statements about budgetary control. Budget reports...

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Accounting

Mike Trusler has prepared the following list of statements about budgetary control.

  1. Budget reports compare actual results with planned objectives.
  2. All budget reports are prepared on a weekly basis.
  3. Management uses budget reports to analyze differences between actual and planned results and determine their causes.
  4. As a result of analyzing budget reports, management may either take corrective action or modify future plans.
  5. Budgetary control works best when a company has an informal reporting system.
  6. The primary recipients of the sales report are the sales manager and the vice president of production.
  7. The primary recipient of the scrap report is the production manager.
  8. A static budget is a projection of budget data at one level of activity.
  9. Top management

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