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Unformatted text preview: money and the amount allocated for the upcoming year Operating Budgets Sales budget Production budget Direct materials budget Direct labor budget Manufacturing overhead Selling expenses budget General and administrative expenses budget Proposed budget: a budget that outlines how much money an organization needs, submitted to a superior or budget review committee Approved budget: a budget that specifies what the manager is actually authorized to spend money on and how much Incremental budgeting approach: a budgeting approach whereby managers use the approved budget of the previous year and then present arguments for why the upcoming year’s budget should be more or less Zerobased budgeting approach: a budgeting approach that assumes that all funding allocations must be justified from zero each year...
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This document was uploaded on 04/08/2014.
- Fall '13