What is a fixed cost, and how does it differentiate from a variable cost? Provide an example to illustrate your response. State why this is useful for a manager to understand in controlling costs.

1. Name 3 processes that could be used by a manager to monitor actual expenditure and control costs.

2.To ensure the budget objectives are met, when should monitoring and control activities occur?

3.What is a fixed cost, and how does it differentiate from a variable cost? Provide an example to illustrate your response. State why this is useful for a manager to understand in controlling costs.

4.Confirm the role that electronic spreadsheets play in managing an organizations budgets and   financial plans.

5.Explain how the data for the actual results would have been collected and collated. As an example, choose one expense in particular and provide details.

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