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A secondary product recovered during the manufacturing of a primary product during a joint process is called a(n): __________ .

Alpha Corp. prices its products at full cost plus 25 percent. The company has two support departments and two producing departments. Budgeted costs and normal activity levels are as follows:   ​ Support Departments Producing Departments ​ S1 S2 P1 P2 Overhead costs $15,000 $27,000 $250,000 $200,000 Square feet       900     1,100       4,000       8,000 Number of employees         12         28          100            80 Direct labor hours – –       9,000     10,000 Machine hours – –     12,000      8,000 ​ S1 Department’s costs are allocated based on square feet, and S2 Department’s costs are allocated based on number of employees. ​ P1 Department uses direct labor hours to assign overhead costs to products and P2 Department uses machine hours. ​ Alpha manufactures Product X, each unit of which requires 5 direct labor hours in P1 Department and no time in P2 Department. Direct materials per unit of Product X cost $200, and direct labor is $110 per unit. ​ Determine the selling price of Product X, if the direct method of allocation is used and the company follows its usual pricing policy.

Golden Ring Company produces two types of product: Large and Larger. Two work orders for two batches of the products are shown below, along with some additional cost information:   ​ Large Larger ​ Work Order 10 Work Order 11 Direct materials (actual costs) $45,000 $75,000 ​ ​ ​ Applied conversion costs: ​ ​ Mixing ? ? Cooking $12,000 $12,000 Bottling $10,000 $15,000 ​ ​ ​ Batch size (bottles) 5,000 5,000 ​ In the Mixing Department, conversion costs are applied on the basis of direct labor hours. Budgeted conversion costs for the department for the year were $50,000 for labor and $125,000 for overhead. Budgeted direct labor hours were 2,500. It takes three minutes to mix the ingredients needed for each bottle. Large (Work Order 10) and Larger (Work Order 11) flow through the Mixing Department first, then through the Cooking and Bottling departments. What is Golden Ring Company’s journal entry to record materials used in the Mixing Department for Work Order 10?

Assuming all other things are the same, if there was an increase in the break-even point, contribution margin per unit must have:

Bienestar, Inc., has done a cost analysis for its production of vests. The following activities and cost drivers have been developed:   Activity Cost Formula Maintenance $11,000 + $2 per machine hour Machining $55,000 + $3 per machine hour Inspection $70,000 + $500 per batch Setups $2,000 per batch Purchasing $80,000 + $150 per purchase order ​ Following are the actual costs of producing 75,000 vests: 5,000 machine hours; 10 batches; 20 purchase orders   Maintenance $20,000 Machining 73,000 Inspection 73,000 Setups 18,000 Purchasing 82,000 ​ What is the budget variance for machining in an activity-based performance report?

Cash disbursements and cash excess or deficiency are components of the __________ budget.

Asian Lamp Company manufactures lamps. The estimated number of lamp sales for the last three months for the current year are as follows:   Month Sales October 10,000 November 14,000 December 13,000 Finished goods inventory at the end of September was 3,000 units. Ending finished goods inventory is budgeted to equal 25 percent of the next month’s sales. Asian Lamp expects to sell the lamps for $25 each. January sales is projected at 16,000 lamps. ​ How many lamps should be produced in October?

A process is a series of activities or operations, which are linked to perform a specific objective.

Analysis that fosters management by exception is

An ideal budgeting system is one that achieves goals and encourages managers to achieve goals ethically.