Chapter 9 practice quiz

Chapter 9 practice quiz - Accounting 2304 Chapter 9...

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Accounting 2304 Chapter 9 Practice Quiz 1. Principal components of a master budget include which of the following? A. Production budget B. Sales budget D. All of the above C. Material purchases budget E. None of the above 2. The first budget customarily prepared as part of an entity's master budget is the: A. production budget B. cash budget D. direct materials purchases C. sales budget E. selling and administrative expense budget 3. Which of the following budgets provides the starting point for the preparation of the direct labor cost budget? A. Direct materials purchases budget B. Cash budget C. Production budget D. Sales budget E. None of the above 4. Production and sales estimates for June are as follows: Estimated inventory (units), June 1. ....................................... 8,000 Desired inventory (units), June 30. ......................................... 9,000 Expected sales volume (units): Area X. ............................................................................. 3,000 Area Y. ............................................................................. 4,000 Area Z. .............................................................................. 5,500 Unit sales price. ...................................................................... $20 The number of units expected to be manufactured in June is: A. 10,000 B. 11,500 D. 13,500 C. 12,500 E. 21,500 5. Tessie's Auto Repair and Beauty Salon is estimating the following sales figures for the next four months: Cash Sales Credit Sales Total Sales March $1,500 $18,000 $19,500 April $2,200 $26,400
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Chapter 9 practice quiz - Accounting 2304 Chapter 9...

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