QuizQuestion 1.1.(TCO 2) Working budgets and monetary budgets(Factors : three) don’t have anything to do with the grasp funds. are ready after the grasp funds. mixed, type the grasp funds. are ready earlier than the grasp funds.Query 2.2.(TCO 2) The time protection of a funds must be(Factors : three) shorter slightly than longer. cowl design by means of manufacture and sale of the product. guided by the aim of the funds. one yr.Query three.three.(TCO 2) Monetary budgets embody the(Factors : three) administrative prices funds. capital expenditures funds. manufacturing funds. advertising and marketing prices funds.Query four.four.(TCO 2) A function of a standard-costing system is that the prices of each services or products deliberate to be labored on throughout the interval might be computed firstly of that interval. This function of normal costing makes it attainable to(Factors : three) preserve precise prices as an integral a part of the costing system. use a easy recording system. get rid of routine stories. justify eliminating the budgeting course of.Query 5.5.(TCO 2) A variance is(Factors : three) the distinction between a budgeted quantity and a typical quantity. the hole between an precise consequence and a benchmark quantity. the required variety of inputs for one customary output. the distinction between an precise consequence and a budgeted quantity.Query 6.6.(TCO 2) Which of the next statements is true about overhead price variance evaluation utilizing activity-based costing?(Factors : three) Overhead price variances are calculated for output-unit stage prices solely. Overhead price variances are calculated for variable manufacturing overhead prices solely. A four-variance evaluation might be carried out. Exercise-based costing makes use of enter measures for all actions, ensuing within the lack of ability to do versatile budgets wanted for variance evaluation.Query 7.7.(TCO 2) Mounted overhead prices embody(Factors : three) the price of gross sales commissions. property taxes paid on plant services. oblique supplies. vitality prices.Query eight.eight.(TCO 2) Katie Enterprises stories the year-end info from 20X8 as follows: Gross sales (70,000 items) $560,000; Value of products bought 210,000; Gross margin 350,000; Working bills 200,000; Working revenue $150,000. Katie is creating the 20X2 funds. In 20X2, the corporate want to improve promoting costs by four%, and because of this expects a lower in gross sales quantity of 10%. All different working bills are anticipated to stay fixed. Assume that COGS is a variable price and that working bills are a set price. What’s budgeted price of products bought for 20X2?(Factors : three) $189,000 $196,560 $218,400 $210,000Query 9.9.(TCO 2) Hester Firm budgets on an annual foundation for its fiscal yr. The next starting and ending stock ranges (in items) are deliberate for the fiscal yr of July 1, 20×2, by means of June 30, 20×3. July 1, 20×2 June 30, 20x3Raw materials (observe) 40,000 10,000Work in course of eight,000 eight,000 Completed items 30,000 5,000(observe) Three items of uncooked materials are wanted to provide every unit of completed product.If 450,000 completed items have been to be manufactured throughout the 20×2-20×3 fiscal yr by Hester Firm, the items of uncooked materials wanted to be bought can be(Factors : three) 1,350,000. 1,360,000. 1,320,000. 1,330,000.Query 10.10.(TCO 2) Info pertaining to Brenton Company’s gross sales income is offered within the following desk: February March April Money Gross sales $160,000 $150,000 $120,000 Credit score Gross sales 300,000 400,000 280,000 Whole Gross sales $460,000 $550,000 $400,000Administration estimates that 5% of credit score gross sales aren’t collectible. Of the credit score gross sales which might be collectible, 60% are collected within the month of sale and the rest within the month following the sale. Value of purchases of stock every month are 70% of the following month’s projected whole gross sales. ll purchases of stock are on account; 25% are paid within the month of buy, and the rest is paid within the month following the acquisition.Brenton’s budgeted whole money receipts in April are(Factors : three) $448,000. $437,000. $431,600. $328,000.
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