Accounting 212 ch 8

when preparing a direct materials budget, the required purchases of raw materials in units equals:

raw materials needed to meet the production schedule+desired ending inventory of raw materials -beginning inventory of raw materials

There are various budgets within the master budget one of these budgets is the production budget, which of the following best describes the production budget

it is calculated based on the sales budget and the desired ending inventory

which of the following statements is not correct concerning the cash budget

it is not necessary to prepare any other budgets before preparing the cash budget

which of the following statements is not correct concerning the manufacturing overhead budget

the manufacturing overhead budget shows only the variable portion of manufacturing overhead

the usual starting point for a master budget is

the sales forecast or sales budget

30% in month of sale 60% following 10% second month following sales have been budgeted: April(140,000) May(130,000) June (150,000) Budgeted cash collection in june would be

137,000

70% of pitktin corp sales collected in the month of sale 20% in the month following sale and 10% in the second month following sale the following are budgeted sales data for the company: Jan (200,000) Feb (300,000) Mar( 350,00) April (250,000) Total budgeted cash collection in april would be

275,000

all of pocast corp sales on account 60% collected in month, 30% month following 10% second month following the following are budgeted sales data : Jan(700,000) Feb(500,000) (400,000) (600,000) cash receipts in april are expected to be

530,000

Sirignano corp produces/sells one product budgeted selling price per unit is 84 budgeted sales are (oct)8400, (nov)12000, 13800, 14300, all sales on credit with 40% 60% following the expected cash collections for november is to

826,560

which of the following budgets are prepared before the sales budget

Budgeted Income Statement: No Direct labor budget: No

all of gaylord corp sales are on account, 35% sales on account are collected in the month of sale, 45% in the month following, the remainder collected the second month, following are budgeted sales what is the amount that should be collected in march

Budgeted Sales: Jan (50,000) Feb (60,000) March( 40,000) April (30,000) 51,000