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9 Cards in this Set
- Front
- Back
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An integrated set of operating and financial budget for a period of time |
Master budget |
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A budget of the estimated direct materials, direct labor, and factory overhead consumed by sold products |
Cost of goods sold budget |
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Budget the estimated cost for each item of factory overhead needed to support budgeted production |
Factory overhead cost budget |
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One of the major elements of the income statement budget that indicates the quantity of estimated sales and the expected unit selling price |
Sales budget |
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Estimate the number of units to be manufactured to meet budgeted sales and desired inventory levels |
Production budget |
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Estimate the quantities of direct materials to be purchased to support budgeted production and desired inventory levels and can be developed in three steps |
Direct materials purchased budget |
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Estimates the labor hours and related cost needed to support budgeted production |
Direct labor cost budget |
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Estimates the expected receipt and payment of cash for a period of time |
Cash budget |
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Summarizes plans for acquiring fixed assets |
Capital expenditures budget |
