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answers
What budget includes corporate office expenses?
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A. Manufacturing Budget
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B. Selling and Administrative Expense Budget - CORRECT
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ANSWERS ✔✔B. Selling and Administrative Expense
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Budget
Insurance policy on office building
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A. Product Cost
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B. Period Cost - CORRECT ANSWERS ✔✔B. Period Cost
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What budget is used for large corporate purchases?
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A. Sales Budget
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B. Capital Budget - CORRECT ANSWERS ✔✔B. Capital
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Budget
What budget is usually the last budget prepared?
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,A. Budgeted Income Statement
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B. Budgeting Balance Sheet - CORRECT ANSWERS ✔✔B.
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Budgeting Balance Sheet |\ |\
What budget is the first budget prepared?
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A. Sales Budget
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B. Production Budget - CORRECT ANSWERS ✔✔A. Sales
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Budget
What budget includes information on the cost of
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materials?
A. Finished Goods Budget
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B. Direct Materials Budget - CORRECT ANSWERS ✔✔B.
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Direct Materials Budget
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What budget includes information on the depreciation of
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factory equipment?
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A. Manufacturing Budget
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B. Selling and Administrative Budget - CORRECT
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ANSWERS ✔✔A. Manufacturing Budget |\ |\ |\
,What budget helps with inventory control?
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A. Production Budget
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B. Finished Goods Budget - CORRECT ANSWERS ✔✔B.
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Finished Goods Budget
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What budget shows revenues?
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A. Sales Budget
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B. Selling and Administrative Budget - CORRECT
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ANSWERS ✔✔A. Sales Budget |\ |\ |\
What budget uses the rate of pay for assembly line
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workers?
A. Direct Material Budget
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B. Direct Labor Budget - CORRECT ANSWERS ✔✔B. Direct
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Labor Budget
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What is an unfavorable cost variance?
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, A. A difference between the actual cost and the budgeted
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cost where the actual cost is less than the budgeted
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amount.
B. A difference between the actual cost and the budgeted
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cost where the actual cost is more than the budgeted
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amount. - CORRECT ANSWERS ✔✔B. A difference
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between the actual cost and the budgeted cost where the
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actual cost is more than the budgeted amount.
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What is a direct cost?
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A. Costs normally incurred for the benefit of several
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segments within the organization; sometimes called |\ |\ |\ |\ |\ |\
common costs or joint costs. |\ |\ |\ |\
B. Costs that are specifically traceable to a unit of
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business or segment being analyzed. - CORRECT
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ANSWERS ✔✔B. Costs that are specifically traceable to a
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unit of business or segment being analyzed.
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What is a cost center?
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A. An organizational unit in which a manager has control
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over and is held accountable for cost performance.
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B. An organizational unit in which a manager has control
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over and is held accountable for both cost and revenue
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performance. - CORRECT ANSWERS ✔✔A. An |\ |\ |\ |\ |\ |\