5 Written questions
5 Matching questions
- Direct materials purchases budget
- Direct materials usage budget
- Strategic budget expenditures
- Merchandise purchases budget
- a Shows the physical amount and cost of planned purchases of direct materials.
- b Shows the amount and budgeted cost of direct material required for production
- c Planned spending on projects and initiatives that lead to long-term value and competetive advantage.
- d The process of projecting continuing operations and projects and then reflecting their financial impact.
- e Shows the amount of merchandise it needs to purchase during the period.
5 Multiple choice questions
- A detailed plan for the acquisition and use of financial and other resources over specified period of time - typically a fiscal year.
- Shows expected sales in units at their expected selling prices.
- Depicts effects on cash of all budgeted activities.
- A result on non-value-adding actions taken by managers to improve indicated performance.
- Identifies required actions over a 5 to 10 year period to attain the firm's strategic goal(s).
5 True/False questions
Budgetary slack → The process of projecting continuing operations and projects and then reflecting their financial impact.
Relative performance contracts → Reward managers for performance based on comparison of actual results with specified benchmarks not budgeted targets.
Practical capacity → The measure of capacity used to estimate cost-driver rates under ABC and TDABC systems.
Capital budgeting → A process for evaluating, selecting, and financing long-term projects
Operating budgets → Identify sources and uses of funds for budgeted operations and capital expenditures