Trumbull Company budgeted sales on account of $120,000 for July, $211,000 for August, and $198,000
for September. Collection experience indicates that none of the budgeted sales will be collected in the
month of the sale, 60% will be collected the month after the sale, 36% in the second month, and 4% will
be uncollectible. The cash receipts from accounts receivable that should be budgeted for September
The Khaki Company has the following budgeted sales data:
The regular pattern of collection of credit sales is 40% in the month of sale, 50% in the month
following sale, and the remainder in the second month following the month of sale. There are no
The budgeted accounts receivable balance on February 28 would be:
Which of the following is NOT one of the three conditions necessary to be classified as a discretionary
a. The activity increases efficiency.
b. The change of state was not achievable by preceding activities.
c. The activity enables other activities to be performed.
d. The activity produces a change of state.
In describing the cost equation, Y = a + bX, "a" is:
a. The dependent variable, cost.
b. The independent variable, the level of activity.
c. The total fixed costs.
d. The variable cost per unit of activity.
The Chief Financial Officer (Controler) of an organization is the member of the top management team