Which of the following is true about budgeting?
A. Budgets only tell you how much you have spent
B. Budgets are very restrictive and don't allow for flexibility
C. Budgets aren't very practical if you don't have much money
D. A and C only
E. None of the above

If jobs have been undercosted due to underallocation of manufacturing overhead, then cost of goods sold (cogs) is too low and which of the following corrections must be made? a. decrease cogs for double the amount of the underallocation b. increase cogs for double the amount of the underallocation c. decrease cogs for the amount of the underallocation d. increase cogs for the amount of the underallocation