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Managerial Accounting Terms

Extra Credit Assignment - 10 points
Across
Condition in which managers choose to benefit themselves at the expense of their company
The delegation of authority and responsibility to managers across different departments
A responsibility center that is evaluated on basis of revenues and costs
Information that is aimed at internal users
Costs incurred prior to the manufacturing process, including research and development
Level of budgeting that concentrates on short-term plans
An offer to sell its goods at a price significantly below its normal selling price
A cost that does not have the potential to influence a decision
If actual sales are greater than budget sales, the variance is said to be _______
Cost incurred in the past that cannot be changed
All manufacturing costs other than direct materials and direct labor incurred to produce a product
Costs that cannot be traced directly to the cost object
Down
A concept by which a small change in revenues is magnified by a significantly large change in profit
The sacrifice incurred to obtain an alternative opportunity
Type of financial statement based on projected (budgeted) information
The cushion between budgeted sales and break-even sales
A budget consisting of receipts, payments, and financing activities
The first budget prepared in the master budget
Cost that stays the same, in total, regardless of activity level
Cost that change, in total, in direct proportion to changes in activity levels