QUESTION 22 Which of the following aspects of management does budgets assist managers with? Evaluating a. b. All of these answer choices are correct Planning Controlling QUESTION 23 The time needed to produce one unit of product is referred to as a. the direct labor efficiency standard b. the direct labor quantity standard the direct labor standard d. the direct labor time standard QUESTION 24 Which of the options is not a component of the master budget? Manufacturing overhead budget ca. b. Gross profit budget Ending Inventory and cost of goods sold budget Production budget