Learn Smart Chapter 8

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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


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