Ch 20-21, 24 Probl INSTRUCTOR USE ONLY Student: Husa . 0. 6) The master budgetin
ID: 2574322 • Letter: C
Question
Ch 20-21, 24 Probl INSTRUCTOR USE ONLY Student: Husa . 0. 6) The master budgeting process pically begins with the sales budget and ends with a 6 cash budget and: A) Budgeted financial statements B) Production budget C) Forecast budget. D) Rolling budget. E) Capital expenditures budget. 7) Operating budgets include all of the following except the: A) Budgeted balance sheet. B) Sales budget. C) Selling expense budget D) Production budget Benea r 8) Cameron Corp. manufactures and sells electric staplers for S 16 each. If 10.000 units 8) were sold in December. and management forecasts 4% growth in sales each month, the dollar amount of electric stapler sales budgeted for February should be: :D A) S166.400 B) S173,056 C) S187.177 D) $179.978 E) S160,000 9) The anticipated costs incurred under normal conditions to produce a specitic product or 9) to perform a specific service are: A) Product costs B) Period costs. C) Standard costs. D) Fixed costs E) Variable costs. ca 10) The difference between actual price per unit of input and the standard price per unit of 10) input results in a: A) Standard variance. B) Quantity variance. C) Price variance. Di Volume variance. E) Controllable variance.Explanation / Answer
Answer:-6) A master budgeting process typically begains with the sales budget and end with a cash budget and (A part) Budgeted financial statements.
Explanation :- The master budget is the compilation of all lower-level budgets produced by a company's various functional areas, and also includes budgeted financial statements, a cash forecast, and a financing plan.
7)-Opreating budget includes all of the following except the (A part) Budgeted balace sheet.
8) Unit sold in December = 10000 units
Growth rate = 4% per month
Janurary sales unit = 10000 units + (10000 units *4%) = 10400 units
Feburary sales unit = 10400 units + (10400 units *4%) = 10816 units
Selling price per unit = $16 each
Budgeted sales February month =10816 units *$16 per unit = $173056 (B part)
9)-The anticipated costs incurred under normal conditions to produce a specific product or to perform a specific services are standard costs ( C part)
10) The difference between actual price per unit of input and standard price per unit of input results in a price variance (C part).
Explanation:- ( Actual price per unit – Standard price per unit) *actual quantity of material purchased