Question

lasler Budgets and Performance Planning Name MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the 1) The usual budget period for most companies is question. A) An annual period separated into weekly budgets B) A quarterly period separated into weekly budgets C) A monthly period separated into daily budgets. D) An annual period of 250 working days. E) An annual period separated into quarterly and monthly budgets. 1) 2) A July sales forecast projects that 6,000 units are going to be sold at a price of $10.50 per 2) unit. The management forecasts 2% growth in sales each month. Total July sales are anticipated to be: A) S67,500. B) S64,260. $61,250. D)63,000. )$60,000. 3) Aloan Co. provides the following sales forecast for the next three months: 3) January February March 3,000 4,200 5,000 Sales units The company wants to end each month with ending finished goods inventory equal to 10% of the next month's sales. Finished goods inventory on December l is 300 units. The budgeted production units for February are A) 4,200 units B) 4,120 units. C) 5,000 units. D) 4,700 units. E) 4,280 units 4) Masterson Company's budgeted production calls for 56,000 liters in April and 52,000 liters in May of a key raw material that costs $1.85 per liter. Each month's ending ra materials inventory should equal 30% of the following month's budgeted materials. April 1 inventory for this material is 16,800 liters. What is the budgeted materials . Th purchases for April? A) $72,520 B) $ 1 32,460. C) $103,600. D) $101,380. E) $106,560.

Answer 1