This is a formal comprehensive plan for the future of a company, expressed as a series of budgets

In this style, costs are seperated based upon their behaviour into fixed and variable cost categories

This number of perspectives are used to measure performance in a Balanced Scorecard

Also known as opportunity costs, these costs differ among alternatives

This can only be achieved under perfect conditions and are often very frustrating for employees

This is used to estimate how much product will be purchased by customers

In this style, all costs are lumped together

Quality costs include these four general categories

These are known as future costs that do not differ among alternatives

This type of standard is reasonably attainable with effort and highly effective for encouraging employees

DAILY DOUBLE

This type of Income Statement includes the contribution margin

This is the most expensive Quality cost for a company

This theory is used to identify bottle necks that must be overcome in a business production schedule

We actually paid $500 for shoes, but expected to pay $1000. This scenario is called this term.

A company relies on this report to determine their Accounts Receivable

This type of Income Statement is mainly prepared for people external from the company. For example, government auditors

Cost of Scrap is considered this type of Quality cost

These decisions are usually short term and are applied to manage a constrained resource

The key to effective variance analysis is this form of management style

A budgeting system that requires managers to estimate sales, production, etc. as though operations are being started for the first time each year

No matter the type of Income Statement, this number will be the same on both

Efficiency and timeliness are are measured by Manufacturing cycle time, and this other time, which is the amount of time it takes to deliver a product or service after it is ordered

See Steak Problem

DAILY DOUBLE