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Pick three of the key terms that appears and briefly discuss itusing your own words. Your response must consist of at least threesentences.Key Terms:Administrative expense budgetBudget committeeBudget directorBudgetary slackBudgetsCapital expenditures budgetCash budgetContinuous budgetControlControllable costsDirect labor budgetDirect materials purchases budgetDysfunctional behaviorEffectivenessEfficiencyEnding finished goods inventory budgetFeature costingFinancial budgetsFlexible budgetFlexible budget variancesGoal congruenceIncentivesIncremental approachMarketing expense budgetMaster budgetMyopic behaviorOperating budgetsOverhead budgetParticipative budgetingProduction budgetPseudoparticipationResearch and development expense budgetRolling budgetSales budgetStatic budgetVariable budgetZero-base budgetingControl limitsCurrently attainable standardsDirect labor efficiency variance(LEV)Direct labor rate variance (LRV)Direct materials price variance(MPV)Direct materials usage variance(MUV)Favorable (F) varianceFixed overhead spending varianceFixed overhead volume varianceIdeal standardsKaizen standardsMix variancePrice (rate) variancePrice standardsQuantity standardsStandard bill of materialsStandard cost per unitStandard cost sheetStandard hours allowedStandard quantity of materials allowedTotal budget varianceUnfavorable (U) varianceUnit standard costUsage (efficiency) varianceVariable overhead efficiency varianceVariable overhead spending varianceYield variance