Name the following
--------- involves setting goals to guide decisions and help motivate employees.
Planning
--------- budgeting, requires managers to estimate sales, production, and other operating data as though operations are being started for the first time.
zero- based
---------- involves decisions and actions to achieve budgeted goals.
Directing
------------ shows the expected results of a responsibility center for only one activity level. Once the budget has been determined, it is not changed, even if the activity changes.
static budget
----------- involves comparing actual performance against the budgeted goals.
Controlling
--------- show the expected results of a responsibility center for several activity levels.
Flexible budgets
A variation of fiscal-year budgeting, called -----------, maintains a 12- month projection into the future.
continuous budgeting
------------- estimates the number of units to be manufactured to meet budgeted sales and desired inventory levels.
production budget
The ----------- summarizes plans for acquiring fixed assets
capital expenditures budget
Budgeted direct material
Budgeted direct material = Budgeted production volume × Direct material quantity required for production expected per unit