In addition to developing standard product costs, organizations may also develop standards for such activities as: Multiple Choice o quality control measures. o machine time and performance. o ) delivery service times o all of the answers are correct. Which of the following is not used in the preparation of a production budget? Multiple Choice The sales forecast e o The inventory policy. Cash payments for raw materials. o The beginning inventory quantity. The advantage of a continuous budget is: Multiple Choice that it is less costly to produce. that it eliminates the need for annual planning. that it saves time for other management activities. that the final budget for any quarter should be more accurate, Which of the following items would be included in the operating expense budget? Multiple Choice Sales commissions. o Raw material purchases. o Cash receipts. Cosh recipes. No o Cost of goods sold Which of the following is not an important factor to consider when preparing a sales forecast? Multiple Choice The state of the economy. Seasonal demand variations. A change in the management team. Competitors' actions