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It has been brought to the attention
of Krona’s executive management team that the department managers have not been
held accountable for their individual department’s budget, which has
contributed to increased costs and reduced profits. You need to complete the
- Explain the steps of the budget-building process.
- Define flexible and static budgets.
- Describe the budget cycle, the decision problems, and
the decision rules that may affect the relationships between the
department and total facility.
Note: Emphasize the role that each department’s input plays into
the budget and how it relates to their use of the budget in managing costs.