Financial Accounting Mod 11 Quiz

Which of the following budgets allow for adjustments in activity levels?

 

McCabe Manufacturing Co.’s static budget at 8,000 units of production includes $40,000 for direct labor and $4,000 for electric power. Total fixed costs are $23,000. At 9,000 units of production, a flexible budget would show:

 

The production budgets are used to prepare which of the following budgets?

 

Principal components of a master budget include which of the following?

 

The first budget customarily prepared as part of an entity’s master budget is the:

 

Pipe Fitters Co. has beginning inventory of 10,000 units. Sales are expected to be 30,000 units. The required ending inventory is 8,000 units. How many units must be produced?

 

Preparation of a cash budget takes all but which of the following into consideration?

 

Calculating fixed unit manufacturing costs results in

 

Which of the following is not a benefit of budgeting?

 

Determine the expected annual sales for the sales budget. Units sell at $8 each. Estimated sales are as follows: First quarter 10,000 units, second quarter 15,000 units, third quarter 20,000 units and fourth quarter 30,000 units.