$1.$ The successful use of a budgeting system generally involves all of the following except?

a$.$ A sense of ownership by those assigned to carry out the budgeting process

b$.$ Acceptance and support by key management personnel

c$.$ Carefully calculated inclusion of budgetary slack in most budgets

d$.$ Integration among subunit budgets within the master budget

$2.$ A company plans to sell $255,000$ units at $$30$ each during the coming fiscal year. Sales commission averages $5\%$ of sales, and other variable selling administrative costs average $10\%$ of sales. Fixed selling and administrative costs are estimated to be $$950,000.$ What is the budgeted amount of selling and administrative costs for the coming year?

$3.$ The budgeting approach in which a company uses the current period$$s budget as a starting point in preparing the next period's budget is known as$?$

a$.$ Incremental budgeting

b$.$ Bottom$-$up budgeting

c$.$ Top$-$down budgeting

d$.$ Zero$-$based budgeting

$4.$ Planned sales commissions are included as a component of the

a$.$ Marketing and distribution budget

b$.$ Direct labor budget

c$.$ Sales budget

d$.$ Manufacturing overhead budget

$5.$ Which of the following budgets drives all other operating budgets?

a$.$ Sales budget

b$.$ Marketing and distribution budget

c$.$ Cash Budget

d$.$ Production budget

$6.$ The cash receipts schedule typically consists of planned collections on sales made to customers in the prior period plus collections on sales made in the current budget period.

a$.$ True

b$.$ False

$7.$ Which of the following is not part of revenue process planning? $($select all that apply$)$

a$.$ Cash receipts budget

b$.$ Marketing and distribution budget

c$.$ Sales budget

d$.$ Production budget

$8.$ A company has budgeted production for the upcoming quarter as follows: January, $37,500$ units; February, $41,000$ units; and March, $34,500$ units. Each unit of production requires $15$ pounds of direct materials. The company$$s policy is to maintain an ending direct materials inventory equal to $12\%$ of the coming month's production requirements. How many pounds of direct materials should be budgeted for purchase in February?

a$.615,000$

b$.677,100$

c$.603,300$

d$.626,700$

$9.$ Budgetary slack is created when:

a$.$ The differences between actual and budgeted amounts are the result of unintentional errors

b$.$ The difference between actual and budgeted amounts is due to unforeseen circumstances

c$.$ The difference between actual and budgeted amounts is the direct result of deliberately$-$ introduced bias

d$.$ All of the above

$10.$ Planned indirect labor costs are included as a component of the:

a$.$ Manufacturing overhead budget

b$.$ Production budget

c$.$ Sales budget

d$.$Direct labor budget