Select the term from the list provided that best matches the description provided. Term A. B. C. D. Definition or Description Composed of numerous separate but interdependent departmental budgets covering sales, production, and administrative expenses Budgeting technique that allows subordinates and upper-level managers to work together in setting budgetary targets Financial planning activities that cover the intermediate range of time (such as whether to buy or lease equipment) Activities associated with long-range decisions such as defining the scope of the business and deciding which products to develop Budgeted financial statements The group of individuals responsible for the coordination of budgeting activities Examples of these budgets include sales budget, inventory purchases budget, and cash budget Budgeting technique that keeps managers constantly involved in the budget process Form of planning that formalizes goals and objectives of a company in financial terms E. F. G. H. 1. Rooney Car Wash, Inc. expected to wash 1,000 cars during the month of August. Washing each car was expected to require 0.3 hour of labor. The company actually used 302 hours of labor to wash 910 cars. The labor usage variance was $522 unfavorable. Required a. Determine the standard labor price. b. If the actual labor rate is $13, indicate whether the labor price variance would be favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) a Standard labor price b. Total labor price variance