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monitoring overheads???

This question has came up lots in p2 but my book dosent have anything to do with it,could someone explain please how a business monitors it's overheads??

Caoimheflynn26 — 03/06/16
Check the marking scheme
jackkfleming — 03/06/16
Usually only 3 main theory questions come up on this and they're like this: 3 Suitable procedures to monitor overheads? Set budgets (targets) for overheads Record actual figures for these overheads Compare the two overheads and decide where to make changes necessary Why does a business monitor its overheads? To predict if there will be shortfalls To identify if the company will be living within its means To see if its necessary to obtain loans
jackkfleming — 03/06/16
Oh and how can one of these overheads be decreased (usually wages) Replace workforce with machinery Decrease overtime payments
dylanator961 — 03/06/16
Ah cheers mate great help thanks
Eikhan — 31/01/18
@jackkfleming - Thanks a lot for this. Probably the most useful thing I have learned Today because i have my Paper 2 tomorrow.
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