When making operational decisions, managers should use ________ fixed costs instead of ________ fixed costs.

Select one:

a. total; per unit

b. joint; separable

c. per unit; total

d. separable; joint

________ costs are costs of manufacturing two or more products that are not separately identifiable as individual products until their split-off point.

Select one:

a. Joint

b. Incremental

c. Sunk

d. Separable

________ set the overall goals and objectives of the organization.

Select one:

a. Capital budgets

b. Strategic plans

c. Master budgets

d. Cash budgets

The most forward-looking and least detailed budget is the strategic plan.

Select one:

a. TRUE

b. FALSE