The culmination of preparing operating budgets is the budgeted balance sheet. Production budget. Cash budget. Budgeted income statement. The final decision as to what standard costs should be the responsibility of management quality control engineers purchasing agents managerial accountants A standard which represents an efficient level of performance that is under expected operating conditions is called ideal standard loose standard tight standard normal standard Power manufacturing recorded operating data for its shoe division for the year. How much is controllable margin for the year? 20% 50% $300,000 $120,000 The purpose of the sales budget report is to control selling expenses. Determine whether income objectives are being met. Determine whether sales goals are being met. Control sales commissions. The standard rate of pay is $20 per direct labor hour. If the actual direct labor payroll was $117,600 for 6,000 direct labor hours worked, the direct labor price (rate) variance is $2,400 unfavorable. $2,400 favorable. $3,000 unfavorable. $3,000 favorable. A static budget report shows costs at only 2 or 3 different levels of activity. Is appropriate in evaluating a manager's effectiveness in controlling costs when the behavior of the costs response to changes in activity is fixed