Select from the attached list the concept or term that best matches the following:

1. _____ All costs, other than direct materials or direct labor, which are associated with the

manufacturing process.

2. _____ Collecting costs by a natural classification.

3. _____ Can be identified specifically and exclusively with a given cost objective in an

economically feasible way.

4. _____ Direct materials plus direct labor plus factory overhead.

5. _____ An operating expense which is a noncash expense.

6. _____ Manufactured goods fully completed but not sold.

7. _____ One of the manufacturing inventory accounts.

8. _____ Is the process of measuring products, services, and activities against the best

levels of performance.

9. _____ Tracing and reassigning costs to one or more cost objectives such as activities,

departments, customers, or products.

10. _____ Is the necessary cost of an activity that cannot be eliminated without affecting a

product's value to the customer.

11. _____ Number of accounts that a manufacturing firm typically has.

12. _____ Manufactured goods that are not fully completed.

13. ______ A prediction of sales under a given set of conditions.

14. _____ The operating budget process ends with the ____________.

15. _____ Detail the planned expenditures for facilities, equipment, new products and other

long-term investments.

16. ______ The financial budget focuses on the ________________.

17. _____ The first step in preparing the master budget.

18. _____ Costs that lack an identifiable relationship to a cost object.

19. _____ Costs that cannot be identified specifically and exclusively with a given cost

objective in an economically feasible way.

20. _____ Inventory account which is not used in a manufacturing firm.

LIST OF CONCEPTS AND TERMS FOR PART VII

1	BALANCE SHEET
2	BENCHMARKING
3	CAPITAL BUDGET
4	CASH BUDGET
5	COEFFICIENT OF DETERMINATION
6	COST ACCUMULATION
7	COST ASSIGNMENT
8	DEPRECIATION EXPENSE
9	DIRECT COSTS
10	FINANCIAL BUDGET
11	FINISHED GOODS INVENTORY
12	INCOME STATEMENT
13	INDIRECT COSTS
14	MANUFACTURING COST OF GOODS SOLD
15	MANUFACTURING OVERHEAD
16	MERCHANDISE INVENTORY
17	NON-VALUE-ADDED COST
18	ONE
19	OPERATING BUDGET
20	PERIOD COSTS
21	PRODUCT COSTS
22	REGRESSION ANALYSIS
23	SALES BUDGET
24	SALES FORECAST
25	STRATEGIC BUDGET
26	TWO
27	THREE
28	UNALLOCATED COST
29	VALUE-ADDED COST
30	WORK-IN-PROCESS INVENTORY