The difference between estimated or budgeted results and the actual results is called: a variance. a standard. a static budget. a flexible budget Looking ahead to see what actions should be taken to realize particular goals is: directing. planning decision making coordinating Question 16 (4 points) Listen Which of the following choices would be categorized as a sunk cost? direct material cost of product to be produced wages of hourly employees printing of new advertising materials depreciation of factory building A company requires 780 pounds of plastic to meet the production needs of a product. It currently has 118 pounds of plastic inventory. The desired ending inventory of plastic is 91 pounds, How many pounds of plastic should be budgeted for purchasing during the coming period? 890 pounds 753 pounds 695 pounds 745 pounds Question 18 (4 points) Listen A bottom-up approach to budgeting is also called: a responsibility budget. an imposed budget. an upside down budget. a participative budget