Practice Quiz 9 - Practice Quiz 9 1. Which of the following...

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Practice Quiz 9 1. Which of the following benefits could an organization reasonably expect from an effective budget program? A) Better control of the organization's costs. B) Better coordination of an organization's activities. C) Better communication of the organization's objectives. D) All of the above. 2. Which of the following budgets are prepared before the cash budget? Selling and Administrative Expense Budget Production Budget A) Yes Yes B) Yes No C) No Yes D) No No 3. A basic idea underlying __________________ is that a manager should be held responsible only for those items that the manager can actually control to a significant extent. A) participative budgeting B) planning and control C) responsibility accounting D) the master budget 4. When preparing a merchandise purchases budget, the required purchases in units equals: A) budgeted unit sales + beginning merchandise inventory + desired merchandise ending inventory. B) budgeted unit sales - beginning merchandise inventory + desired merchandise ending inventory. C) budgeted unit sales - beginning merchandise inventory - desired merchandise ending inventory. D) budgeted unit sales + beginning merchandise inventory - desired merchandise ending inventory. 5. Which of the following statements is NOT correct concerning the 1
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Manufacturing Overhead Budget? A) The Manufacturing Overhead Budget provides a schedule of all costs of production other than direct materials and labor costs. B) The Manufacturing Overhead Budget shows only the variable portion of manufacturing overhead. C) The Manufacturing Overhead Budget shows the expected cash disbursements for manufacturing overhead. D) The Manufacturing Overhead Budget is prepared after the Sales Budget. 6. Sioux Company is estimating the following sales for the first six months of next year: January. ...... $250,00 0 February. .... $220,00 0 March. ........ $240,00 0 April. .......... $300,00 0 May. ........... $360,00 0 Sales at Sioux are normally collected as 60% in the month of sale, 35% in the month following the sale, and the remaining 5% being uncollectible. Based on this information, how much cash should Sioux expect to collect during the month of April? A)
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This note was uploaded on 12/05/2009 for the course ACC ACC 502 taught by Professor Prof.l.liu during the Spring '09 term at CSU Dominguez Hills.

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Practice Quiz 9 - Practice Quiz 9 1. Which of the following...

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