Financial plan for business outlining anticipated revenues

Reference no: EM132321021

Unit 5 Interactive Assessment 1

A budget is nothing more than a financial plan for the business outlining anticipated revenues (income) and anticipated costs/expenses (outflow). The sales budget is the primary budget that drives all other budgets. Explain.

Unit 5 Interactive Assessment 2

Standard costs are costs per unit that are expected for direct materials, direct labor and overhead. These costs could be considered a benchmark that the company is hoping to achieve or even do better. Standard costs can be used in both a job order or process cost system. Give examples of how standard costs could be used in either a job order or a process cost system.

Reference no: EM132321021

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