chapter 8 Flashcards Preview

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Flashcards in chapter 8 Deck (11):
1

strategic planning

Look 5 years in the future

2

Rolling budget

every month that passes another month is budgeted

3

Participative Budget

Every level managers create a budget

4

Safety Stock

Stock extra just in case for unexpected increase of demand

5

Zero-base Budgeting

Blank slate data to create budget

6

Master Budget

Comprehensive document of budgets

7

Operating budget

budgeted income statement

8

Financial Budget

Budgeted Balance sheet

9

Production Budget

#units to be sold+ desired ending inventory- beginning inventory

10

DM budget

#units to producex amount of dm per unit + desired inventory - beg inventory

11

DL Budget

#units produce x DL hours per unit x DL cost per hour