Campbell, Inc., has an operating environment with considerable uncertainty. The company prepares the budget for several different volume levels. Campbell had the following budgeted data: $\begin{array}{llr} \text { Budgeted variable costs per unit } &\\ \text {Direct materials } &\$7.00\\ \text {Direct labour } &10.00\\ \text { Supplies } &1.00\\ \text { Indirect labour } &0.50\\ \text { Power } &0.05\\ \end{array}$ $\begin{array}{l} \text { Budgeted fixed overhead for } 2011 \\ \text { Supervision } & \$ 4,000 \\ \text { Depreciation } & 3,000 \\ \text { Rent } & 2000 \end{array}$ -Refer to the figure.What is the difference in total budgeted costs between the volume range of 4,000 and 5,000 units?

A) $0 B) $1,000 C) $9,000 D) $18,550 A) $0 B) $1,000 C) $9,000 D) $18,550

Harald, Inc., has done a cost analysis for its production of bumper stickers. The following activities and cost drivers have been developed: \[\begin{array} { l l } \text { Activit } & \text { Cost Formula } \\ \hline \text { Maintenance } & \$ 11,000 + \$ 0.11 \text { per machine hour } \\ \text { Machining } & \$ 25,000 + \$ 0.50 \text { per machine hour } \\ \text { Setups } & \$ 50 \text { per batch } \\ \text { Purchasing } & \$ 200 + \$ 45 \text { per purchase order } \end{array}\] -Refer to the figure.Following are the actual costs of producing 85,000 stickers: 5,000 machine hours; 10 batches; 20 purchase orders \[\begin{array} { l r } \text { Maintenance } & \$ 11,500 \\ \text { Machining } & 28,300 \\ \text { Setups } & 550 \\ \text { Purchasing } & 1,000 \end{array}\] What is the budget variance for setups in an activity-based performance report?

A) $50 F B) $50 U C) $800 U D) 1,000 F A) $50 F B) $50 U C) $800 U D) 1,000 F

Schrandt Company, an importer and retailer of Polish pottery and kitchenware, prepares a monthly master budget. Data for the July master budget are given below: The June 30th balance sheet follows: \[\begin{array} { l r l r } \text { Cash } & \$ 25,000 & \text { Accounts payable } & \text { 45,000 } \\ \text { Accounts receivable } & 110,000 & \text { Capital stock } & 300,000 \\ \text { Inventary } & 54,000 & \text { Retained earrings } & 94,000 \\ \text { Building and equipment (net) } & 250,000 & & \end{array}\] Actual sales for June and budgeted sales for July,August,and September are given below: \[\begin{array} { l l } \text { June } & \$ 137,500 \\ \text { July } & 360,000 \\ \text { August } & 400,000 \\ \text { September } & 320,000 \end{array}\] Sales are 20 percent for cash and 80 percent on credit.All credit sales are collected in the month following the sale.There are no bad debts. The gross margin percentage is 40 percent of sales.The desired ending inventory is equal to 25 percent of the following month's sales.One quarter of the purchases are paid for in the month of purchase and the others are purchased on account and paid in full the following month. The monthly cash operating expenses are $43,000,and the monthly depreciation expenses are $7,000. -Refer to the figure.What is the balance of the retained earnings account at the end of July?

A) $94,000 B) $188,000 C) $360,000 D) $398,000 A) $94,000 B) $188,000 C) $360,000 D) $398,000

Armati, Inc., is looking for feedback on companyperformance. The company compares the budget for the year with the actual costs. Data have been collected below: Armati, Inc., had the following budgeted data: $\begin{array}{lr} \text { Unit sales } & 26,000 \\ \text { Unit production } & 26,000 \\ & \\ \text { Budgeted fixed overhead: } & \$ 800 \\ \text { Supervision } & 2,000 \\ \text { Depreciation } & 100 \\ \text { Rent } & 1800 \end{array}$ $\begin{array}{llr} \text {Budgeted variable costs per unit: } &\\ \text { Direct materials} &\$0.15\\ \text { Direct labour } &0.20\\ \text { Supplies } &0.02\\ \text { Indirect labour } &0.05\\ \text{Power}&0.02 \end{array}$ $\begin{array}{llr} \text { Actual unit sales} &24,000\\ \text {Actual unit production } &28,000\\ \\ \text { Actual fixed overhead:} &\\ \text { Supervision } &\$850\\ \text { Depreciation } &2,000\\ \text { Rent} &100\\ \end{array}$ $\begin{array}{llr} \text { Actual variable costs: } &\\ \text {Direct materials } &\$3,500\\ \text { Direct labour} &4,900\\ \text {Supplies } &530\\ \text { Indirect labour} &1,250\\ \text {Power } &470\\ \end{array}$ -Refer to the figure.What is the flexible budget for rent?

A) $100 B) $200 C) $2,900 D) $2,950 A) $100 B) $200 C) $2,900 D) $2,950

Schrandt Company, an importer and retailer of Polish pottery and kitchenware, prepares a monthly master budget. Data for the July master budget are given below: The June 30th balance sheet follows: \[\begin{array} { l r l r } \text { Cash } & \$ 25,000 & \text { Accounts payable } & \text { 45,000 } \\ \text { Accounts receivable } & 110,000 & \text { Capital stock } & 300,000 \\ \text { Inventary } & 54,000 & \text { Retained earrings } & 94,000 \\ \text { Building and equipment (net) } & 250,000 & & \end{array}\] Actual sales for June and budgeted sales for July,August,and September are given below: \[\begin{array} { l l } \text { June } & \$ 137,500 \\ \text { July } & 360,000 \\ \text { August } & 400,000 \\ \text { September } & 320,000 \end{array}\] Sales are 20 percent for cash and 80 percent on credit.All credit sales are collected in the month following the sale.There are no bad debts. The gross margin percentage is 40 percent of sales.The desired ending inventory is equal to 25 percent of the following month's sales.One quarter of the purchases are paid for in the month of purchase and the others are purchased on account and paid in full the following month. The monthly cash operating expenses are $43,000,and the monthly depreciation expenses are $7,000. -Refer to the figure.What are the total assets at the end of July?

A) $439,000 B) $446,500 C) $515,500 D) $654,500 A) $439,000 B) $446,500 C) $515,500 D) $654,500

Michael Corporation has the following sales forecasts for the first three months: \[\begin{array} { l l } \text { Month } & \text { sales } \\ \hline \text { January } & \$ 36,000 \\ \text { February } & 24,000 \\ \text { March } & 40,000 \end{array}\] Sixty-five percent of sales are collected in the month of the sale and the remainder are collected in the following month. \[\begin{array} { l l } \text { Accaunts recervable balance (January 1) } & \$16,000 \\ \text { Cash balance (January 1) } & 12,000 \\ \text { Minimun cash balance needed } &20,000 \end{array}\] - What is the cash balance at the end of January,assuming that cash is received only from customers and that $48,000 is paid out during January?

A) $19,400 B) $20,600 C) $21,000 D) $23,400 A) $19,400 B) $20,600 C) $21,000 D) $23,400

Armati, Inc., is looking for feedback on companyperformance. The company compares the budget for the year with the actual costs. Data have been collected below: Armati, Inc., had the following budgeted data: $\begin{array}{lr} \text { Unit sales } & 26,000 \\ \text { Unit production } & 26,000 \\ & \\ \text { Budgeted fixed overhead: } & \$ 800 \\ \text { Supervision } & 2,000 \\ \text { Depreciation } & 100 \\ \text { Rent } & 1800 \end{array}$ $\begin{array}{llr} \text {Budgeted variable costs per unit: } &\\ \text { Direct materials} &\$0.15\\ \text { Direct labour } &0.20\\ \text { Supplies } &0.02\\ \text { Indirect labour } &0.05\\ \text{Power}&0.02 \end{array}$ $\begin{array}{llr} \text { Actual unit sales} &24,000\\ \text {Actual unit production } &28,000\\ \\ \text { Actual fixed overhead:} &\\ \text { Supervision } &\$850\\ \text { Depreciation } &2,000\\ \text { Rent} &100\\ \end{array}$ $\begin{array}{llr} \text { Actual variable costs: } &\\ \text {Direct materials } &\$3,500\\ \text { Direct labour} &4,900\\ \text {Supplies } &530\\ \text { Indirect labour} &1,250\\ \text {Power } &470\\ \end{array}$ -Refer to the figure.What is the flexible budget variance for indirect labour?

A) $50 F B) $150 F C) $1,200 U D) $1,250 F A) $50 F B) $150 F C) $1,200 U D) $1,250 F

Armati, Inc., is looking for feedback on companyperformance. The company compares the budget for the year with the actual costs. Data have been collected below: Armati, Inc., had the following budgeted data: $\begin{array}{lr} \text { Unit sales } & 26,000 \\ \text { Unit production } & 26,000 \\ & \\ \text { Budgeted fixed overhead: } & \$ 800 \\ \text { Supervision } & 2,000 \\ \text { Depreciation } & 100 \\ \text { Rent } & 1800 \end{array}$ $\begin{array}{llr} \text {Budgeted variable costs per unit: } &\\ \text { Direct materials} &\$0.15\\ \text { Direct labour } &0.20\\ \text { Supplies } &0.02\\ \text { Indirect labour } &0.05\\ \text{Power}&0.02 \end{array}$ $\begin{array}{llr} \text { Actual unit sales} &24,000\\ \text {Actual unit production } &28,000\\ \\ \text { Actual fixed overhead:} &\\ \text { Supervision } &\$850\\ \text { Depreciation } &2,000\\ \text { Rent} &100\\ \end{array}$ $\begin{array}{llr} \text { Actual variable costs: } &\\ \text {Direct materials } &\$3,500\\ \text { Direct labour} &4,900\\ \text {Supplies } &530\\ \text { Indirect labour} &1,250\\ \text {Power } &470\\ \end{array}$ -Refer to the figure.What is the static budget variance for supplies?

A) $10 F B) $10 U C) $50 F D) $50 U A) $10 F B) $10 U C) $50 F D) $50 U

Campbell, Inc., has an operating environment with considerable uncertainty. The company prepares the budget for several different volume levels. Campbell had the following budgeted data: $\begin{array}{llr} \text { Budgeted variable costs per unit } &\\ \text {Direct materials } &\$7.00\\ \text {Direct labour } &10.00\\ \text { Supplies } &1.00\\ \text { Indirect labour } &0.50\\ \text { Power } &0.05\\ \end{array}$ $\begin{array}{l} \text { Budgeted fixed overhead for } 2011 \\ \text { Supervision } & \$ 4,000 \\ \text { Depreciation } & 3,000 \\ \text { Rent } & 2000 \end{array}$ -Refer to the figure.What are the total budgeted costs for 5,000 units?

A) $9,000 B) $92,750 C) $101,750 D) $110,000 A) $9,000 B) $92,750 C) $101,750 D) $110,000

Schrandt Company, an importer and retailer of Polish pottery and kitchenware, prepares a monthly master budget. Data for the July master budget are given below: The June 30th balance sheet follows: \[\begin{array} { l r l r } \text { Cash } & \$ 25,000 & \text { Accounts payable } & \text { 45,000 } \\ \text { Accounts receivable } & 110,000 & \text { Capital stock } & 300,000 \\ \text { Inventary } & 54,000 & \text { Retained earrings } & 94,000 \\ \text { Building and equipment (net) } & 250,000 & & \end{array}\] Actual sales for June and budgeted sales for July,August,and September are given below: \[\begin{array} { l l } \text { June } & \$ 137,500 \\ \text { July } & 360,000 \\ \text { August } & 400,000 \\ \text { September } & 320,000 \end{array}\] Sales are 20 percent for cash and 80 percent on credit.All credit sales are collected in the month following the sale.There are no bad debts. The gross margin percentage is 40 percent of sales.The desired ending inventory is equal to 25 percent of the following month's sales.One quarter of the purchases are paid for in the month of purchase and the others are purchased on account and paid in full the following month. The monthly cash operating expenses are $43,000,and the monthly depreciation expenses are $7,000. -Refer to the figure.What is the balance of the accounts payable at the end of July?

A) $55,500 B) $93,000 C) $120,000 D) $166,500 A) $55,500 B) $93,000 C) $120,000 D) $166,500

Glenn, Inc. has done a cost analysis for its production of T-shirts. The following activities and cost drivers have been developed: \[\begin{array} { l l } \text { Activity } & \text { Cost Farmula } \\ \hline \text { Maintenance } & \$ 11,000 + \$ 2 \text { per machine how } \\ \text { Machining } & \$ 55,000 + \$ 3 \text { per machine how } \\ \text { Inspection } & \$ 70,000 + \$ 500 \text { per batch } \\ \text { Setups } & \$ 2,000 \text { per batch } \\ \text { Purchasing } & \$ 80,000 + \$ 150 \text { per purchase order } \end{array}\] Following are the actual costs of producing 75,000 T-shirts: 5,000 machine hours; 10 batches; 20 purchase orders $\begin{array}{lr} \text { Maintenance } & \$ 20,000 \\ \text { Machining } & 73,000 \\ \text { Inspection } & 73,000 \\ \text { Setups } & 18,000 \\ \text { Purchasing } & 82,000 \end{array}$ -Refer to the figure.What is the budget variance for machining in an activity-based performance report?

A) $1,000 U B) $2,000 U C) $3,000 U D) $4,000 U A) $1,000 U B) $2,000 U C) $3,000 U D) $4,000 U

Glenn, Inc. has done a cost analysis for its production of T-shirts. The following activities and cost drivers have been developed: \[\begin{array} { l l } \text { Activity } & \text { Cost Farmula } \\ \hline \text { Maintenance } & \$ 11,000 + \$ 2 \text { per machine how } \\ \text { Machining } & \$ 55,000 + \$ 3 \text { per machine how } \\ \text { Inspection } & \$ 70,000 + \$ 500 \text { per batch } \\ \text { Setups } & \$ 2,000 \text { per batch } \\ \text { Purchasing } & \$ 80,000 + \$ 150 \text { per purchase order } \end{array}\] Following are the actual costs of producing 75,000 T-shirts: 5,000 machine hours; 10 batches; 20 purchase orders $\begin{array}{lr} \text { Maintenance } & \$ 20,000 \\ \text { Machining } & 73,000 \\ \text { Inspection } & 73,000 \\ \text { Setups } & 18,000 \\ \text { Purchasing } & 82,000 \end{array}$ -Refer to the figure.What is the budget variance for total costs in an activity-based performance report?

A) $1,000 F B) $2,000 F C) $3,000 F D) $4,000 F A) $1,000 F B) $2,000 F C) $3,000 F D) $4,000 F

Exam 8: Budgeting for Planning and Control

Campbell, Inc., has an operating environment with considerable uncertainty. The company prepares the budget for several different volume levels. Campbell had the following budgeted data: Budgeted variable costs per unit Direct materials \7 .00 Direct labour 10.00 Supplies 1.00 Indirect labour 0.50 Power 0.05 Budgeted fixed overhead for 2011 Supervision \ 4,000 Depreciation 3,000 Rent 2000 -Refer to the figure.What is the difference in total budgeted costs between the volume range of 4,000 and 5,000 units?

(Multiple Choice)

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Question 21

Oriental Lamp Company manufactures lamps. The estimated number of lamp sales for the last three months of the current year is as follows: Month Sales October 10,000 November 14,000 December 13,000 Finished goods inventory at the end of September was 3,000 units.Ending finished goods inventory is budgeted to equal 25 percent of the next month's sales.Oriental Lamp expects to sell the lamps for $25 each.January of the following year sales is projected at 16,000 lamps. -Refer to the figure.How many lamps should be produced in October?

(Multiple Choice)

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Question 22

Harald, Inc., has done a cost analysis for its production of bumper stickers. The following activities and cost drivers have been developed: Activit Cost Formula Maintenance \ 11,000+\ 0.11 per machine hour Machining \ 25,000+\ 0.50 per machine hour Setups \ 50 per batch Purchasing \ 200+\ 45 per purchase order -Refer to the figure.Following are the actual costs of producing 85,000 stickers: 5,000 machine hours; 10 batches; 20 purchase orders Maintenance \ 11,500 Machining 28,300 Setups 550 Purchasing 1,000 What is the budget variance for setups in an activity-based performance report?

(Multiple Choice)

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Question 23

Schrandt Company, an importer and retailer of Polish pottery and kitchenware, prepares a monthly master budget. Data for the July master budget are given below: The June 30th balance sheet follows: Cash \ 25,000 Accounts payable 45,000 Accounts receivable 110,000 Capital stock 300,000 Inventary 54,000 Retained earrings 94,000 Building and equipment (net) 250,000 Actual sales for June and budgeted sales for July,August,and September are given below: June \ 137,500 July 360,000 August 400,000 September 320,000 Sales are 20 percent for cash and 80 percent on credit.All credit sales are collected in the month following the sale.There are no bad debts. The gross margin percentage is 40 percent of sales.The desired ending inventory is equal to 25 percent of the following month's sales.One quarter of the purchases are paid for in the month of purchase and the others are purchased on account and paid in full the following month. The monthly cash operating expenses are $43,000,and the monthly depreciation expenses are $7,000. -Refer to the figure.What is the balance of the retained earnings account at the end of July?

(Multiple Choice)

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Question 24

Discuss the features of an ideal budgetary process.

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Question 25

Armati, Inc., is looking for feedback on companyperformance. The company compares the budget for the year with the actual costs. Data have been collected below: Armati, Inc., had the following budgeted data: Unit sales 26,000 Unit production 26,000 Budgeted fixed overhead: \ 800 Supervision 2,000 Depreciation 100 Rent 1800 Budgeted variable costs per unit: Direct materials \0 .15 Direct labour 0.20 Supplies 0.02 Indirect labour 0.05 Power 0.02 Actual unit sales 24,000 Actual unit production 28,000 Actual fixed overhead: Supervision \8 50 Depreciation 2,000 Rent 100 Actual variable costs: Direct materials \3 ,500 Direct labour 4,900 Supplies 530 Indirect labour 1,250 Power 470 -Refer to the figure.What is the flexible budget for rent?

(Multiple Choice)

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Question 26

Schrandt Company, an importer and retailer of Polish pottery and kitchenware, prepares a monthly master budget. Data for the July master budget are given below: The June 30th balance sheet follows: Cash \ 25,000 Accounts payable 45,000 Accounts receivable 110,000 Capital stock 300,000 Inventary 54,000 Retained earrings 94,000 Building and equipment (net) 250,000 Actual sales for June and budgeted sales for July,August,and September are given below: June \ 137,500 July 360,000 August 400,000 September 320,000 Sales are 20 percent for cash and 80 percent on credit.All credit sales are collected in the month following the sale.There are no bad debts. The gross margin percentage is 40 percent of sales.The desired ending inventory is equal to 25 percent of the following month's sales.One quarter of the purchases are paid for in the month of purchase and the others are purchased on account and paid in full the following month. The monthly cash operating expenses are $43,000,and the monthly depreciation expenses are $7,000. -Refer to the figure.What are the total assets at the end of July?

(Multiple Choice)

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Question 27

Michael Corporation has the following sales forecasts for the first three months: Month sales January \ 36,000 February 24,000 March 40,000 Sixty-five percent of sales are collected in the month of the sale and the remainder are collected in the following month. Accaunts recervable balance (January 1) \1 6,000 Cash balance (January 1) 12,000 Minimun cash balance needed 20,000 - What is the cash balance at the end of January,assuming that cash is received only from customers and that $48,000 is paid out during January?

(Multiple Choice)

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Question 28

Armati, Inc., is looking for feedback on companyperformance. The company compares the budget for the year with the actual costs. Data have been collected below: Armati, Inc., had the following budgeted data: Unit sales 26,000 Unit production 26,000 Budgeted fixed overhead: \ 800 Supervision 2,000 Depreciation 100 Rent 1800 Budgeted variable costs per unit: Direct materials \0 .15 Direct labour 0.20 Supplies 0.02 Indirect labour 0.05 Power 0.02 Actual unit sales 24,000 Actual unit production 28,000 Actual fixed overhead: Supervision \8 50 Depreciation 2,000 Rent 100 Actual variable costs: Direct materials \3 ,500 Direct labour 4,900 Supplies 530 Indirect labour 1,250 Power 470 -Refer to the figure.What is the flexible budget variance for indirect labour?

(Multiple Choice)

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Question 29

Armati, Inc., is looking for feedback on companyperformance. The company compares the budget for the year with the actual costs. Data have been collected below: Armati, Inc., had the following budgeted data: Unit sales 26,000 Unit production 26,000 Budgeted fixed overhead: \ 800 Supervision 2,000 Depreciation 100 Rent 1800 Budgeted variable costs per unit: Direct materials \0 .15 Direct labour 0.20 Supplies 0.02 Indirect labour 0.05 Power 0.02 Actual unit sales 24,000 Actual unit production 28,000 Actual fixed overhead: Supervision \8 50 Depreciation 2,000 Rent 100 Actual variable costs: Direct materials \3 ,500 Direct labour 4,900 Supplies 530 Indirect labour 1,250 Power 470 -Refer to the figure.What is the static budget variance for supplies?

(Multiple Choice)

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Question 30

Which of the following is a financial budget?

(Multiple Choice)

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Question 31

Campbell, Inc., has an operating environment with considerable uncertainty. The company prepares the budget for several different volume levels. Campbell had the following budgeted data: Budgeted variable costs per unit Direct materials \7 .00 Direct labour 10.00 Supplies 1.00 Indirect labour 0.50 Power 0.05 Budgeted fixed overhead for 2011 Supervision \ 4,000 Depreciation 3,000 Rent 2000 -Refer to the figure.What are the total budgeted costs for 5,000 units?

(Multiple Choice)

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Question 32

Ben Company has the following sales forecast for the next quarter: April,20,000 units; May,24,000 units; June,28,000 units.Sales totalled 16,000 units in March.The March finished goods inventory was 4,000 units.End-of-month finished goods inventory levels are planned to be equal to 20 percent of the next month's planned sales. -What is the planned production for Ben Company for April?

(Multiple Choice)

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Question 33

When budgets are used for control,what is the effect on budgeted amounts?

(Multiple Choice)

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Question 34

Schrandt Company, an importer and retailer of Polish pottery and kitchenware, prepares a monthly master budget. Data for the July master budget are given below: The June 30th balance sheet follows: Cash \ 25,000 Accounts payable 45,000 Accounts receivable 110,000 Capital stock 300,000 Inventary 54,000 Retained earrings 94,000 Building and equipment (net) 250,000 Actual sales for June and budgeted sales for July,August,and September are given below: June \ 137,500 July 360,000 August 400,000 September 320,000 Sales are 20 percent for cash and 80 percent on credit.All credit sales are collected in the month following the sale.There are no bad debts. The gross margin percentage is 40 percent of sales.The desired ending inventory is equal to 25 percent of the following month's sales.One quarter of the purchases are paid for in the month of purchase and the others are purchased on account and paid in full the following month. The monthly cash operating expenses are $43,000,and the monthly depreciation expenses are $7,000. -Refer to the figure.What is the balance of the accounts payable at the end of July?

(Multiple Choice)

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Question 35

Which is the final step of the four steps needed to build an activity-based budget?

(Multiple Choice)

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Question 36

Glenn, Inc. has done a cost analysis for its production of T-shirts. The following activities and cost drivers have been developed: Activity Cost Farmula Maintenance \ 11,000+\ 2 per machine how Machining \ 55,000+\ 3 per machine how Inspection \ 70,000+\ 500 per batch Setups \ 2,000 per batch Purchasing \ 80,000+\ 150 per purchase order Following are the actual costs of producing 75,000 T-shirts: 5,000 machine hours; 10 batches; 20 purchase orders Maintenance \ 20,000 Machining 73,000 Inspection 73,000 Setups 18,000 Purchasing 82,000 -Refer to the figure.What is the budget variance for machining in an activity-based performance report?

(Multiple Choice)

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Question 37

Compare and contrast static budgets,flexible budgets,and activity-based budgets.

(Essay)

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Question 38

The city of Nevada had the following sales of water for the selected months: January \ 5,000 February 45,000 March 60,000 April 42,500 May 70,000 June 120,000 All sales are on credit.Historically,50 percent is collected in the month of sale,35 percent during the first month following the sale,and 15 percent in the second month following the sale. Cost of water averages 75 percent of sales.Water is purchased in the month of sale.All purchases are paid during the month following the purchase. Operating costs of $10,000 are paid each month. The March 1 cash balance is expected to be the minimum balance of $5,000. Money can be borrowed from a local bank in increments of $1,000.(Do not include interest charges in your budget.) Prepare a cash budget for March,April,and May.

(Essay)

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Question 39

Glenn, Inc. has done a cost analysis for its production of T-shirts. The following activities and cost drivers have been developed: Activity Cost Farmula Maintenance \ 11,000+\ 2 per machine how Machining \ 55,000+\ 3 per machine how Inspection \ 70,000+\ 500 per batch Setups \ 2,000 per batch Purchasing \ 80,000+\ 150 per purchase order Following are the actual costs of producing 75,000 T-shirts: 5,000 machine hours; 10 batches; 20 purchase orders Maintenance \ 20,000 Machining 73,000 Inspection 73,000 Setups 18,000 Purchasing 82,000 -Refer to the figure.What is the budget variance for total costs in an activity-based performance report?

(Multiple Choice)

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Question 40

Discuss the features of an ideal budgetary process.

Which of the following is a financial budget?

When budgets are used for control,what is the effect on budgeted amounts?

Which is the final step of the four steps needed to build an activity-based budget?

Compare and contrast static budgets,flexible budgets,and activity-based budgets.

A: Basic Cost Management Concepts

B: Basic Cost Management Concepts

Cost Behaviour

Cost-Volume-Profit Analysis

Job-Order Costing Systems

Process Costing

Activity-Based Costing

Allocating Costs of Support Departments and Joint Products

Standard Costing: a Functional-Based Control Approach

Responsibility Accounting,performance Evaluation,and Transfer Pricing

Tactical Decision Making

Pricing and Profitability Analysis

Strategic Cost Management

Activity-Based Management

The Balanced Scorecard: Strategic-Based Control

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Inventory Management: Economic Order Quantity,jit,and the Theory of Constraints

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