managerial accounting 498827

Variance Analysis” Please respond to the following:

• From the first e-Activity, the article indicates approximately 90% of the companies in the study were sensitive to the variances in material prices. Examine the causes of material price variances and the potential impact on pricing decisions.
• Examine the reasons service companies are more sensitive to labor and price variances, as compared to material price variances, in the industrial sector and why managing these variances is essential to sustaining profitability.

Balanced Scorecard” Please respond to the following:

• Create an argument for using a balanced scorecard approach to evaluating business performance considering how you convince management and employees that it is an effective business tool.
• Describe the techniques you would employ to determine the effectiveness of a balanced scorecard in your organization.