| A) | A detailed plan showing how cash resources will be acquired and used over a specified time period.
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| B) | A detailed plan showing the indirect production costs that will be incurred over a specified time period.
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| C) | Costs associated with the storage of inventory, such as storage space, property taxes, insurance, and interest on funds.
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| D) | The difference between actual and static budget amounts for revenues and expenses.
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| E) | The point in time when an order must be placed to replenish depleted inventory; it is determined by multiplying the lead time by the average daily or weekly usage.
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| F) | The difference between average usage of materials and maximum usage of materials that can reasonably be expected during the lead time.
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| G) | A 12-month budget that rolls forward one month (or quarter) as the current month (or quarter) is completed.
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| H) | A system of accountability in which managers are held responsible for those items of revenue and cost over which they can exert significant influence—and only those items. Managers are held responsible for differences between budgeted and actual results.
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| I) | A method of preparing budgets in which managers prepare their own budget estimates. These budget estimates are then reviewed by the manager's supervisor, and any issues are resolved by mutual agreement, leading to a completed budget.
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| J) | A detailed schedule showing the expected sales for coming periods; these sales are typically expressed in both dollars and units.
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| K) | A budget designed for only the planned level of activity.
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| L) | The quantification of future plans.
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| M) | The difference between actual and flexible budget amounts for revenues and expenses.
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| N) | The interval between the time that an order is placed and the time that the order is actually received from the supplier or production is completed.
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| O) | A summary of a company's plans in which specific targets are set for sales, production, distribution, administrative, and financing activities; it generally culminates in a cash budget, a budgeted income statement, and a budgeted balance sheet.
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| P) | A budget that provides estimates of what revenues and costs should be for any level of activity within a specified range.
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| Q) | An estimation of future cash inflows and cash outflows from operating activities, investing activities, and financing activities.
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| R) | A detailed plan showing the number of units that must be produced during a period to meet both sales and inventory needs.
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| S) | A detailed plan showing labour requirements over a specified time period.
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| T) | Labour and other costs involved in getting facilities ready to produce a batch of a particular production item.
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| U) | The order size for materials that minimizes the costs of ordering and carrying inventory.
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| V) | Costs that result from not having enough inventory on hand to meet customers' needs, including customer dissatisfaction and lost sales, forgone quantity discounts, uneven production, and additional transportation charges.
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| W) | The difference between the revenues and expenses a manager believes can actually be achieved and the amounts included in the budget. Slack will exist when revenue budgets are intentionally set below expected levels and expense budgets are set above expected levels.
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| X) | A detailed plan showing the amount of raw materials that must be purchased during a period to meet both production and inventory needs.
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| Y) | A budget showing the dollar amount of cost expected to appear on the balance sheet for unsold units at the end of a period.
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| Z) | Costs associated with the acquisition of inventory, such as clerical costs and transportation costs.
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| AA) | A detailed schedule of planned expenses that will be incurred in areas other than manufacturing during a budget period.
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| AB) | The difference between flexible and static budget amounts for revenues and expenses caused by actual activity levels differing from static budget amounts.
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| AC) | The number of units produced in a production lot that minimizes setup costs and the costs of carrying inventory.
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