Which of the following budgets would be prepared by both manufacturing companies and merchandising companies? Manufacturing...
Which of the following budgets would be prepared by both manufacturing companies and merchandising companies?
|
Manufacturing overhead budget |
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|
Sales budget |
||
|
Direct material purchases budget |
||
|
Production budget |
Homework Answers
Sales budgets would be prepared by both manufacturing companies and merchandising companies
|
Merchandising Company |
Manufacturing Company |
|
Sales Budget |
Sales Budget |
|
Merchandising purchase budget |
Direct Material Budget |
|
Direct Labor Budget |
|
|
Manufacturing Overhead budget |
|
|
Selling Expenses Budget |
Selling Expenses Budget |
|
General and Administrative Expenses Budget |
General and Administrative Expenses Budget |
|
Capital expenditure budget |
Capital expenditure budget |
|
Cash Budget |
Cash Budget |
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Income Statement |
Income Statement |
|
Balance Sheet |
Balance Sheet |
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Which of the following budgets would be prepared by both
manufacturing companies and merchandising companies?
Manufacturing...
Considering the budgets of a manufacturing firm, which of the following statements is false? The sales...
Considering the budgets of a manufacturing firm, which of the following statements is false? The sales budget must be prepared before the cash budget. The budgeted balance sheet must be prepared before the cash budget. The budgeted income statement must be prepared before the budgeted balance sheet. The production budget must be prepared before direct materials purchase budget.
Which of the following statements is NOT correct concerning the Manufacturing Overhead Budget? Multiple Choice The...
Which of the following statements is NOT correct concerning the Manufacturing Overhead Budget? Multiple Choice The Manufacturing Overhead Budget provides a schedule of all costs of production other than direct materials and labor costs. The Manufacturing Overhead Budget shows only the variable portion of manufacturing overhead. The Manufacturing Overhead Budget shows the expected cash disbursements for manufacturing overhead. The Manufacturing Overhead Budget is prepared after the Sales Budget. The basic idea underlying responsibility accounting is that a manager should be...
Problem 2. Preparing Master budgets UBS Company, a manufacturing business that sells baskets, wants a master...
Problem 2. Preparing Master budgets UBS Company, a manufacturing business that sells baskets, wants a master budget prepared for the first three months of this year (January, February and March). The managers of the different departments have provided the following information: The Sales Manager has projected the following sales: - January 6,000 units - February 5,000 units - March 6,000 units - Projected selling price is $40.00/unit Your Production Manager gave the following information: - Ending Inventory is to be...
14. Which of the following includes a normal sequence in which the indicated budgets are prepared?...
14. Which of the following includes a normal sequence in which the indicated budgets are prepared? A. Direct Materials, Cash, Sales C. Sales, Balance Sheet, Direct Materials E. Production, Direct Materials, Direct Labor B. Production, Direct Materials, Sales D. Production, Mfg. OH, Sales 15. Which of the following is a benefit of budgeting? A. reduces the need for tracking actual cost activity B. sets benchmarks C. does not uncover potential bottlenecks D. discourages planning E. all of these 16. The...
LignmentSessionLoca Calculator The production budgets are used to prepare which of the following budgets? a. sales...
LignmentSessionLoca Calculator The production budgets are used to prepare which of the following budgets? a. sales in units b. sales in dollars c. direct materials purchases, direct labor cost, and factory overhead cost Od. operating expenses
The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015: ZIGBY MANUFACTURING...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2015 Assets Cash $ 30,000 Accounts receivable 464,100 Raw materials inventory 98,505 Finished goods inventory 450,840 Total current assets 1,043,445 Equipment, gross 620,000 Accumulated depreciation (160,000) Equipment, net 460,000 Total assets $ 1,503,445 Liabilities and Equity ...
Which of the following budgets is prepared last? a. Budgeted balance sheets are not dependent upon...
Which of the following budgets is prepared last? a. Budgeted balance sheets are not dependent upon budgeted income statements b. Budgeted income statements include amortization expenses c. Cash budgets include amortization expenses d. Production budget shows the cost of the raw material to be purchased
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING...
The management of Zigby Manufacturing prepared the following
estimated balance sheet for March 2017:
ZIGBY MANUFACTURING
Estimated Balance Sheet
March 31, 2017
Assets
Cash
$
53,000
Accounts receivable
392,400
Raw materials inventory
96,600
Finished goods inventory
313,920
Total current assets
855,920
Equipment, gross
626,000
Accumulated depreciation
(163,000
)
Equipment, net
463,000
Total assets
$
1,318,920
Liabilities and Equity
Accounts payable
$
204,800
Short-term notes payable
25,000
Total current liabilities
229,800
Long-term note payable
520,000
Total liabilities
749,800
Common stock
348,000...
13. Which of the following budgets is not directly associated with the production budget? a. direct materials purch...
13. Which of the following budgets is not directly associated with the production budget? a. direct materials purchases budget 02 b. sales budget c. capital expenditures budget d. direct labor cost budget
Q2. Define the master budget and use your own figures to prepare the following quarter budgets:...
Q2. Define the master budget and use your own figures to prepare the following quarter budgets: (2.5 marks) 1- Sales budget 2- Production budget with ending inventory. 3- Raw material budget with ending inventory. 4- Direct labor budget 5- Manufacturing overhead budget. note: post the solution not photo
Problem 2. Preparing Master budgets UBS Company, a manufacturing business that sells baskets, wants a master budget prepared for the first three months of this year (January, February and March). The managers of the different departments have provided the following information: The Sales Manager has projected the following sales: - January 6,000 units - February 5,000 units - March 6,000 units - Projected selling price is $40.00/unit Your Production Manager gave the following information: - Ending Inventory is to be...
14. Which of the following includes a normal sequence in which the indicated budgets are prepared? A. Direct Materials, Cash, Sales C. Sales, Balance Sheet, Direct Materials E. Production, Direct Materials, Direct Labor B. Production, Direct Materials, Sales D. Production, Mfg. OH, Sales 15. Which of the following is a benefit of budgeting? A. reduces the need for tracking actual cost activity B. sets benchmarks C. does not uncover potential bottlenecks D. discourages planning E. all of these 16. The...
LignmentSessionLoca Calculator The production budgets are used to prepare which of the following budgets? a. sales in units b. sales in dollars c. direct materials purchases, direct labor cost, and factory overhead cost Od. operating expenses
The management of Zigby Manufacturing prepared the following
estimated balance sheet for March 2017:
ZIGBY MANUFACTURING
Estimated Balance Sheet
March 31, 2017
Assets
Cash
$
53,000
Accounts receivable
392,400
Raw materials inventory
96,600
Finished goods inventory
313,920
Total current assets
855,920
Equipment, gross
626,000
Accumulated depreciation
(163,000
)
Equipment, net
463,000
Total assets
$
1,318,920
Liabilities and Equity
Accounts payable
$
204,800
Short-term notes payable
25,000
Total current liabilities
229,800
Long-term note payable
520,000
Total liabilities
749,800
Common stock
348,000...
13. Which of the following budgets is not directly associated with the production budget? a. direct materials purchases budget 02 b. sales budget c. capital expenditures budget d. direct labor cost budget
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