The condition that exists when managers deliberately underestimate revenues or overestimate costs to provide flexibility is called:

Select one:

a. Realistic standards

b. Monetary incentives

c. Budgetary slack

d. Management by exception

Patron Corporation had sales of $350,000, income of $10,000, and an asset base of $100,000. The turnover is

Select one:

a. 0.035.

b. 0.35.

c. 3.00.

d. 3.50.

The standard cost sheet includes all of the following EXCEPT

Select one:

a. the standard cost per unit.

b. the standard quantity allowed for actual production.

c. the standard price.

d. the standard quantity per unit.