Place the letter/term next the the appropriate definition Terminology a.) Budget b.) Budget Committee c.) Budgetary Control d.) Cash Budget e.) Cost Center f.) Direct Labor Budget g.) Direct Materials Budget DEFINITION 1 A projection of the cost of direct labor to meet production requirements An estimate of expected sales for the budget period. Budgets that indicate the cash resources needed for expected operations and planned capital expenditures. An estimate of expected manufacturing overhead costs. 5 Management's plans expressed in financial terms for a specified future time period. 6 A projection of anticipated cash flows. 7 A group responsible for coordinating the preparation of the budget. The review of budget reports by top management directed entirely or primarily to differences 8 between actual results and planned objectives. 9 A set of interrelated budgets that constitute a plan of action for a specified time period. 10 An estimate of the quantity and cost of direct materials to be purchased. 11 A responsibility center tht incures costs but does not directly generate revenues 12 Individual budgets that results in a budgeted income statement. 13 The use of budgets to control operations. A responsibility center that incurs costs, generates revenues, and has control over the 14 investment funds available for use. 15 A responsibility center that incurs costs and generates revenues. h.) Financial Budget i.) Investment Center |j.) Management by Exception k.) Manufacturing Overhead Budget 1.) Master Budget m.) Operating Budget n.) Profit Center p.) Sales Budget