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ACC 2415 Fund of Managerial Accounting Chapter 22: Budgetary Planning FINAL EXAM State the essentials of effective budgeting and the components of the master budget.

ACC 2415 Fund of Managerial Accounting

Chapter 22: Budgetary Planning FINAL EXAM

  1. State the essentials of effective budgeting and the components of the master budget.
  2. Prepare budgets for sales, production, and direct materials.
  3. Prepare budgets for direct labor, manufacturing overhead, and selling and administrative expenses, and a budgeted income statement.
  4. Prepare a cash budget and a budgeted balance sheet.
  5. Apply budgeting principles to nonmanufacturing companies.

Chapter 23: Budgetary Control and Responsibility Accounting FINAL EXAM

  1. Describe budgetary control and static budget reports.
  2. Prepare flexible budget reports.
  3. Apply responsibility accounting to cost and profit centers.
  4. Evaluate performance in investment centers.

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