Accounting 261 Final

The calculation of Unit product costs requires information from the ___________ budget Manufacturing overhead ending finished goods inventory cash selling and administrative

manufacturing overhead

The difference between the actual quantity of direct materials used and how much should have been used is called a ______________ variance

quantity

The first step in the budgeting process is the preparation of the ___________ budget

sales

Which of the following budgets are directly based on information from the sales budget? Production budget selling and administrative expense budget direct labor budget direct materials budget Choose all that apply

Production budget and selling and administrative expense budget

A number of separate, but interdependent, budgets that formally lay out the company's sales, production, and financial goals are contained in the _______________ budget

master

The difference between the actual price paid for direct materials and the standard price is called _____________ variance

price

In a manufacturing company, the __________________ budget shows the number of units that must be manufactured to satisfy sales needs and provide for the desired ending inventory

production

In a manufacturing company, which budget is used as the basis for creating the direct materials budget, the direct labor budget, and the manufacturing overhead budget? Finished Goods inventory budget Sales Budget Cash Budget Production Budget

Production Budget

The direct materials budget directly relies on the: direct labor budget sales budget merchandise purchases budget production budget

production budget

The receipts, disbursements, excess or deficiency, and financing section are all parts of the: cash budget production budget selling and administrative expense budget sales budget

cash budget