The correct answer is:-False.
Explanation:-
Sales budget is the
primary where goods to be produced are decided and then production
budget is prepared to determine the materials required.
The production budget is typically prepared prior to the sales budget. True False
The sales budget is usually prepared before the production budget. True False
The selling and administrative budget is typically prepared before the cash budget. True or False
The production budget is typically prepared before the direct materials budget. True or False True False Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: a. The budgeted selling price per unit is $110. Budgeted unit sales for January, February, March, and April are 7,500, 10,600, 12,000, and 11,700 units, respectively. All sales are on credit. b. Regarding credit sales, 30% are collected in the...
True or False: A production budget is not needed for a service organization. True or False: A master budget consists of (a) organizational goals, (b) strategic long-range profit plan, and (c) tactical short-range profit plan. True or False: Individual managers' beliefs and expectations are incorporated into the budgeting process using grass roots budgeting procedures. True or False: The sales budget drives the rest of the budgeting process for both manufacturers and merchandisers.
The budgeted income statement is typically prepared before the budgeted balance sheet. True False
The Selling and Administrative Budget typically includes only fixed corporate expenses. True False
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...
Question 11 A capital expenditures budget is prepared before the operating budgets. True False
True or False? Typically, increasing sales also leads to an increase in accounts receivable. The increase in accounts receivable is typically financed by both short and long-term assets.
Is a budget system typically begins with sales budget or master budget? for accounting.