Card Set Information
An accounting device used to plan and control resources of operational departments and divisions.
Excess resources set within a budget to provide for uncertain events.
capital expenditures budget
The budget summarizing future plans for acquiring plant facilities and equipment.
A budget of estimated cash receipts and payments.
A method of budgeting that provides for maintaining a 12-month projection into the future.
cost of goods sold budget
A budget of the estimated direct materials, direct labor, and factory overhead consumed by sold products.
direct labor cost budget
Budget that estimates direct labor hours and related costs needed to support budgeted production.
direct materials purchases budget
A budget that uses the production budget as a starting point to budget materials purchases.
factory overhead cost budget
Budget that estimates the cost for each item of factory overhead needed to support budgeted production.
A budget that adjusts for varying rates of activity.
A condition that occurs when individual objectives conflict with organizational objectives.
The comprehensive budget plan linking all the individual budgets related to sales, cost of goods sold, operating expenses, projects, capital expenditures, and cash.
A budget of estimated unit production.
An organizational unit for which a manager is assigned responsibility over costs, revenues, or assets.
One of the major elements of the income statement budget that indicates the quantity of estimated sales and the expected unit selling price.
A budget that does not adjust to changes in activity levels.
A concept of budgeting that requires all levels of management to start from zero and estimate budget data as if there had been no previous activities in their units.