acctg 231 ch 8 learnsmart

required borrowings on a cash budget is calculated by:

adding the desired ending cash balance to the amount of the cash deficiency

The master budget culminates in a ____________ budget, a budgeted income statement and a budgeted balance sheet

cash

suboptimal budget recommendations budgetary slack

limitations of self-imposed budgeted

All costs of production other than direct materials and direct labor are shown on the _____ _____ budget:

manufacturing overhead

the calculation of unit product cost requires information from the ____ budget.

manufacturing overhead

a company with adequate cash balances at the beginning and end of the year:

may still have cash deficiency issues during the year

The amount of goods for resale to be purchased from suppliers during the period is shown on the ______ ______ budget.

merchandise purchases

in a manufacturing company, the ____ budget shows the number of units that must be manufactured to satisfy sales needs and provide for the desired ending inventory

production

what number does the direct materials budget take directly from the production budget?

required production

The first step in the budgeting process is the preparation of the __________ budget

sales

borrowing money is required whenever...

-cash excess is less than the minimum required cash balance -there is a cash deficiency

budgets needed to calculate unit product costs:

-direct labor budget -direct materials budget -manufacturing overhead budget

The cost of unsold units is computed on the ____ budget:

ending finished goods inventory

a manager cannot complain that the budget was unrealistic and impossible to meet when a(n) _____-_____ budget is in place

self imposed

the receipts, disbursements, excess or deficiency, and financing section are all parts of the:

cash budget

On the cash budget, what is subtracted from total cash available to find the cash excess or deficiency?

cash disbursements

the number of working hours required to satisfy the production budget is shown on the ___ ___ budget.

direct labor

in a manufacturing company, the ___ budget details the raw materials that must be purchased to fulfill the production budget and provide for adequate inventories.

direct materials

The section on the cash budget that summarizes all cash payments that are planned for the budget period is the cash ____ section:

disbursements

A company's planned net profit that serves as a benchmark against which subsequent company performance can be measured is shown on the budgeted ___ ___.

income statement

Budgeted expenses for areas other than manufacturing are shown on the ____ budget:

selling and administrative