Study Guide for Exam #3: Chapters 8 & 9Monday 3/30/2015Chapter 8: Short Term decisions for businessRELEVANT COSTS FOR SHORT TERM DECISION MAKING: Everything needs to be learned. All the terminologies need to be learned. Distinguishing between Relevant and un-relevant costs; Sunk cost; Considerations for each short-decision; STUDY THE WHOLE CHAPTER AND LEARN EVERYTHING.Chapter 9 Master BudgetPreparation of Master budget for Manufacturer:1. Sales Budget2. Production budget3. DM, DL, MOH budget4. Operating Expense Budget5. Cash collection budget6. Cash Payment budget7. Combined Cash budgetCost of Goods Sold, Inventory, and Purchase budget for Merchandisers.All the theory concepts as