chapter_24 - CHAPTER 24 Budgetary Planning ASSIGNMENT...

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24-1 CHAPTER 24 Budgetary Planning ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems 1. Indicate the benefits of budgeting. 1, 2, 4 2. State the essentials of effective budgeting. 3, 5, 6 3. Identify the budgets that comprise the master budget. 7, 8, 9, 10, 11, 12, 13, 14 1, 2, 3, 4, 5, 6, 7 1, 2, 3, 4, 5, 6, 7, 8 1A, 2A, 3A, 6A 1B, 2B, 3B 4. Describe the sources for preparing the budgeted income statement. 15, 16 8 8 1A, 2A, 3A, 6A 1B, 2B, 3B 5. Explain the principal sec- tions of a cash budget. 17, 18 9 9 4A 4B 6. Indicate the applicability of budgeting in nonman- ufacturing companies. 19, 20 10 10 5A 5B
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24-2 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Prepare a budgeted income statement and supporting budgets. Simple 30-40 2A Prepare sales, production, direct materials, direct labor, and income statement budgets. 40-50 3A Prepare sales and production budgets and compute cost per unit under two plans. Moderate 4A Prepare a cash budget for two months. 5A Prepare purchases and income statement budgets for a merchandiser. 6A Prepare a budgeted income statement and balance shee Complex 1B Prepare a budgeted income statement and supporting 2B Prepare sales, production, direct materials, direct labor, and income statement budgets. 3B Prepare sales and production budgets and compute cost per unit under two plans. 4B Prepare a cash budget for two months. 5B Prepare purchases and income statement budgets for a merchandiser.
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BLOOM'S TAXONOMY TABLE 24-3 Correlation Chart between Bloom’s Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Study Objective Knowledge Comprehension Application Analysis Synthesis Evaluation 1. Indicate the benefits of budgeting. Q24-1 Q24-2 Q24-4 2. State the essentials of effective budgeting. Q24-3 Q24-5 Q24-6 3. Identify the budgets that comprise the master budget. Q24-7 Q24-8 Q24-9 Q24-10 Q24-11 Q24-12 Q24-13 Q24-14 BE24-2 BE24-3 BE24-4 BE24-5 BE24-6 BE24-7 E24-1 E24-2 E24-3 E24-4 E24-5 E24-6 E24-7 E24-8 P24-1A P24-2A P24-6A P24-1B P24-2B BE24-1 P24-3A P24-3B 4. Describe the sources for preparing the budgeted income statement. Q24-16 Q24-15 BE24-8 5. Explain the principal sec- tions of a cash budget. Q24-17 Q24-18 BE24-9 E24-9 P24-4A P24-4B 6. Indicate the applicability of budgeting in nonmanu- facturing companies. Q24-19 Q24-20 BE24-10 E24-10 P24-5A P24-5B Broadening Your Perspective Real-World Focus Exploring the Web Manag. Analysis Communication Group Decision Ethics Case Group Decision
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24-4 ANSWERS TO QUESTIONS 1. ( a ) A bu d g e t is a fo r m a l wr i t t e n st a t e m e n t of ma na g e m e nt ’ s pl a n s fo r a spe c i f i ed f u t u r e t i m e pe - r i o d , ex p r e s s e d in f i n a n c i a l t e r m s . ( b ) A bu d g e t ai d s ma n a g e m e n t in pl a n ni n g be c a u s e it re pr e s e n t s th e pr i m a r y m e a ns of co m m u - n i c a t i n g ag r e e d - u p o n ob j e c t i v e s th r o u g h o u t t h e or g a n i z a t i o n . O n c e ad o p t e d , a bu d g e t be - c o m e s an im p o r t a n t ba s i s f o r ev a l u a t i n g pe r f o r m a n c e .
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This note was uploaded on 11/25/2010 for the course ACCT 212 taught by Professor Luna during the Spring '09 term at DeAnza College.

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chapter_24 - CHAPTER 24 Budgetary Planning ASSIGNMENT...

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