Which of the following best describes the selling and administrative budget? An estimate of cash expenditures for long-term assets. An estimate of all operating costs other than production costs. A budget that is based on sales projections plus an estimate of desired ending finished goods inventory less beginning finished goods inventory. None of the answer choices is

Which of the following best describes the selling and administrative budget? An estimate of cash expenditures for long-term assets. An estimate of all operating costs other than production costs. A budget that is based on sales projections plus an estimate of desired ending finished goods inventory less beginning finished goods inventory. None of the answer choices is

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11MC: Which of the following statements is not correct? A. The sales budget is computed by multiplying...

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Which of the following statements is not correct? A. The sales budget is computed by multiplying estimated sales by the sales price. B. The production budget begins with the sales estimated for each period. C. The direct materials budget begins with the sales estimated for each period. D. The sales budget is typically the first budget prepared.
Which of the following is not an operating budget? A. sales budget B. production budget C. direct labor budget D. cash budget
Which of the following appears on the budgeted balance sheet? * A. estimated sales B. estimated cost of goods sold C. estimated fixed selling expense D. estimated ending accounts receivable
Q.Operating and financial budgets. Which of the following statements is correct regarding the drivers of operating and financial budgets? a. The sales budget will drive the cost of goods sold budget. b. The cost of goods sold budget will drive the units of production budget. c. The production budget will drive the selling and administrative expense budget. d. The cash budget will drive the production and selling and administrative expense budgets.
In a production budget, the volume of production is the first thing to calculate, but deducting the estimated units in beginning inventory and adding the desired units in ending inventory seems opposite. Can you explain so that we can all understand better?
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
Which of the following is true with respect to the sales budget? Group of answer choices It provides sales data to prepare the budgeted income statement. It captures the variable and fixed expenses of the business. It has no relation with the production budget. It provides sales data to prepare income statements for stockholders and creditors.
Which of the following is true? a) The direct materials purchases budget is determined from the direct labour budget. b) The only budget providing input into the revenue budget is the sales budget c) The direct materials purchases budget and the capital expenditures budget are both determined from the production budget. d) The selling and administrative expense budget is input into the forecasted cost of goods sold.
Which of the following will not appear in a cash budget? a. Wages b.Machinery bought on hire purchase c. Depreciation of machinery d.Sales revenue
Which of the following is not a component of the master budget? O Production budget. Direct material purchases budget. Ending inventory and cost of goods sold budget. Indirect cost budget.
Which of the following is not the example of functional budget? Production Budget Cost of goods sold Budget Sales Budget Research and Development Budget
Which of the following expenses would not appear in the cash budget? a. Depreciation expense b. Marketing expense c. Interest expense d. Wages expense