CH 22

Name the following

100

--------- involves setting goals to guide decisions and help motivate employees.

Planning

200

---------- involves decisions and actions to achieve budgeted goals.

Directing

300

----------- involves comparing actual performance against the budgeted goals.

Controlling

400

A variation of fiscal-year budgeting, called -----------, maintains a 12- month projection into the future.

continuous budgeting

Name the kind of budget

100

--------- budgeting, requires managers to estimate sales, production, and other operating data as though operations are being started for the first time.

zero- based

200

------------ 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

300

--------- show the expected results of a responsibility center for several activity levels.

Flexible budgets

400

------------- estimates the number of units to be manufactured to meet budgeted sales and desired inventory levels.

production budget

500

The ----------- summarizes plans for acquiring fixed assets

capital expenditures budget

Formula for

500

Budgeted direct material

Budgeted direct material = Budgeted production volume × Direct material quantity required for production expected per unit