Learn Smart Chapter 8
if a budget initiated by top management has targets that are set too high, ---- ---- ----
motivation will suffer
operating budgets generally cover a ---- period
one-year
a budget that is prepared with the full cooperation of managers at all levels is a self-imposed or ------ budget
participative
the first line of the direct labor budget consists of the budgeted units expected to be __ during the period.
produced
Both the production and selling and administrative expense budgets are prepared using information directly from the ____ budget:
sales
a manager cannot complain that the budget was unrealistic and impossible to meet when a ---- ---- budget is in place
self-imposed
budgetary slack occurs when a manager submits a budget that is
too easy to attain
payments for direct materials, direct labor, and manufacturing overhead costs are all listed in the ---- section of the cash budget
disbursements
budgets
communicate management's plan throughout the organization
gathering feedback to ensure that the plan is being followed is referred to as
control
the ending finished goods inventory budget computes the ------ units
cost of unsold
developing goals and preparing various budgets to achieve those goals is part of
planning
what number does direct materials budget take directly from the production budget?
required production
under the concept of ---- ----, managers should only be held accountable for items they can actually control
responsibility accounting