Dolly Salem Owns and Operates a Bakery in Charleston,South Carolina

question 82

Multiple Choice

Dolly Salem owns and operates a bakery in Charleston,South Carolina.Each morning she prepares a list that describes the number and variety of cakes and cookies that will be prepared during the day.This list is an example of a(an)

• A)bill of materials.
• B)operations list.
• C)production order.
• D)materials requisition.
• E)move ticket.

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Definitions:

Planning Budget

A financial plan that forecasts revenue, expenditures, and resources needed for a particular period.

Static Budget

A financial plan that does not change or adjust over the period for which it is set, regardless of variations in activity levels or performance.

Overhead Cost

These are expenses related to the ongoing operation of a business that isn't directly tied to a specific product or service.

Favorable Spending Variance

A situation where the actual spending is less than the budgeted or expected amount.