Which of the following expenses would not appear in cash budget? Depreciation expense Marketing expense Interest expense 1. Wages expense nformation technology has made it easier for Amazon.com's managers to perform all of the following asks except preparing performance reports that identify variances between actual and budgeted revenues and 1. costs. combining individual units’ budgets into the companywide budget. sensitivity analyses. removing budgetary slack from the budget. 1.

Which of the following expenses would not appear in cash budget? Depreciation expense Marketing expense Interest expense 1. Wages expense nformation technology has made it easier for Amazon.com's managers to perform all of the following asks except preparing performance reports that identify variances between actual and budgeted revenues and 1. costs. combining individual units’ budgets into the companywide budget. sensitivity analyses. removing budgetary slack from the budget. 1.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following statements is NOT correct? a. The cash budget must be prepared prior to the sales budget because managers want to know the expected cash collections on sales made to customers in prior periods before projecting sales for the current period. b. The sales budget is constructed by multiplying the expected sales in units by the sales price. c. The sales budget is the starting point in preparing the master budget. d. The sales budget generally is accompanied by a computation of expected cash receipts for the forthcoming budget period.
The budgeting process does not involve which of the following activities? a. periodic comparison of actual results to goals b. increased marketing efforts to boost sales c. execution of plans to achieve goals d. establishment of specific goals
Which of the following is not a benefit of budgeting? It allows for coordination between different departments within a firm. It compels managers to develop objectives and to plan allocating resources to achieve the objective. It provides performance evaluation and feedback. It reduces the need for analysis with regard to company expenses.
1 - Merchandising companies prepare the production budget after preparing the sales budget. 2 - Budget preparation is best determined in a top-down managerial approach A. Statement 1 is True Statement 2 is True B. Statement 1 is True Statement 2 is False C. Statement 1 is False Statement 2 is True D. Statement 1 is False Statement 2 is False
Regarding Budgets, which of the following statements is true? a. A budget is a business plan for the short term. O b. A periodic budget is prepared for a particular period of time. O c. Budgets are based on forecasts. However, the performance of a manager should be compared to a target that reflects the actual environment. O d. All the answers are true.
Which budget does not directly impact the cash budget? a. Sales Budget b. Manufacturing Overhead Budget c. Direct Labor Budget d. Ending Inventory Budget e. Direct Materials Budget f. Selling and Administrative Expense Budget Next
Management Accounting Question (Qualitative Short Answer) a. Why is the sales forecast the starting point in budgeting? b. What is a perpetual budget? c. Which is a better basis for evaluating actual results: budgeted performance or past performance? Why? d. The materials price variance can be computed at what two different points in time? Which point is better and why? e. What effect, if any, would you expect purchasing poor-quality materials to have on direct labor variances? f. Distinguish between ideal and practical standards. g. Costs associated with the quality of conformance can be broken down into four broad groups. What are these four groups and how do they differ? h. What is likely the most effective way to reduce a company's total quality costs? i. What are the three main uses of quality cost reports?
Which of the following is NOT true about Budgets? A) Budgets start with the Sales Budget B) The Cash budget is prepared before the Operating budget C) Process of evaluating performance can be improved by using budgets D) The Master Budget is ordinarily separated into monthly and quarterly budgets
Master budgets can provide a great deal of information to managers and investors including: O Sales forecasts that allow costing, production information, staffing. and cash flow information. O How much investors will get in dividends for the year. O A clear guideline for production so they know when to quit making product.
Can you please answer those 2 questions and provide appropriate answers? thank you for your answers. 1. Flexible budgets are used during which stage of the management process? * Planning Organizing Implementing Controlling Evaluation 2. What kind of variance results from a difference between the planning budget and the flexible budget ? * Spending Activity Pre-determined Evaluation none of the above
How do managers use budgets to control business activities?a) Match the concept (by number) to the correct terminology. 1. Static Budget2. Budget Performance Report3. Variance4. Static Budget Variance5. Flexible Budget6. Flexible Budget Variance7. Sales Volume Variance______ A budget prepared for various levels of sales volume.______ The difference between actual results and the expected results in the flexible budget for the actual units sold. ______ The difference between the expected results in the flexible budget for the actual units soldand the static budget. _____ The difference between actual results and the expected results in the static budget. _____ A report that summarizes the actual results, budgeted amounts, and the differences. _____ A budget prepared for only one level of sales volume. _____ The difference between an actual amount and the budgeted amount; labeled as favorable if it increases operating income and unfavorable if it decreases operating income. In…
These are True/False questions. ____ 6. If the total unit cost of manufacturing Product Y is currently $36 and the total unit cost after modifying the style is estimated to be $48, the differential cost for this situation is $12. ____ 7. A process whereby the effect of fluctuations in level of activity is built into the budgeting system is referred to as flexible budgeting. ____ 8. In an investment center, the manager has the responsibility and the authority to make decisions that affect not only costs and revenues, but also the plant assets invested in the center. ____ 9. The capital expenditures budget summarizes future plans for acquisition of fixed assets. ____ 10. The process by which management plans, evaluates, and controls long-term investment decisions involving fixed assets is called capital investment analysis.