{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T06:54:14-04:00", "answer_date": "2024-06-28 06:54:14", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4257682", "url": "\/study-help\/questions\/1-why-are-budgets-useful-in-the-planning-process-points-4257682", "question_creation_date_js": "2024-06-28T06:54:14-04:00", "question_creation_date": "Jun 28, 2024 06:54 AM", "meta_title": "[Solved] 1. Why are budgets useful in the planning | SolutionInn", "meta_description": "Answer of - 1. Why are budgets useful in the planning process? (Points: 2) They provide management with information about the comp | SolutionInn", "meta_keywords": "1,budgets,planning,process,points,2,provide,management,information,company,s,performance", "question_title_h1": "1. Why are budgets useful in the planning process? (Points: 2) They provide management with information about the company's past performance. They help communicate goals", "question_title": "1. Why are budgets useful in the planning process? (Points: 2) They", "question_title_for_js_snippet": "1 Why are budgets useful in the planning process (Points 2) They provide management with information about the company's past performance They help communicate goals and provide a basis for evaluation They guarantee the company will be profitable if it meets its objectives They enable the budget committee to earn their paycheck 2 An unrealistic budget is more likely to result when it (Points 2) has been developed in a top down fashion has been developed in a bottom up fashion has been developed by all levels of management is developed with performance appraisal usages in mind 3 The direct materials budget shows Desired ending direct materials 36,000 pounds Total materials required 54,000 pounds Direct materials purchases 47,400 pounds The total direct materials needed for production is (Points 2) 18,000 pounds 6,600 pounds 11,400 pounds 101,400 pounds 4 Which of the following would not appear as a fixed expense on a selling and admini strative expense budget (Points 2) Freight out Office salaries Property taxes Depreciation 5 The following credit sales are budgeted by Roswell Company January $102,000 February 150,000 March 210,000 April 180,000 The company's past experience indicates that 70 of the accounts receivable are collected in the month of sale, 20 in the month following the sale, and 8 in the second month following the sale The anticipated cash inflow for the month of April is (Points 2) $185,160 $168,000 $180,000 $176,400 6 Which one of the following sections would not appear on a cash budget (Points 2) Cash receipts Financing Investing Cash disbursements 7 Stanbrough Company has the following budgeted sales July $100,000, August $150,000, and September $125,000 40 of the sales are for cash and 60 are on credit For the credit sales, 50 are collected in the month of sale, and 50 the next month The total expected cash receipts during September are (Points 2) $140,000 $132,500 $131,250 $125,000 8 Which one of the following budgets would be prepared for a manufacturer but not for a merchandiser (Points 2) Direct labor budget Cash budget Sales budget Budgeted income statement 9 For a merchandiser, the starting point in the development of the master budget is the (Points 2) cash budget sales budget selling and administrative expenses budget budgeted income statement 10 A purchases budget is used instead of a production budget by (Points 2) merchandising companies service enterprises not for profit organizations manufacturing companies I NEED THESE ANSWERS WITHIN 60 MINUTES THIS IS A TIME QUIZ", "question_description": "1. Why are budgets useful in the planning process? (Points: 2) They provide management with information about the company's past performance. They help communicate goals and provide a basis for evaluation. They guarantee the company will be profitable if it meets its objectives. They enable the budget committee to earn their paycheck. 2. An unrealistic budget is more likely to result when it (Points: 2) has been developed in a top down fashion. has been developed in a bottom up fashion. has been developed by all levels of management. is developed with performance appraisal usages in mind. 3. The direct materials budget shows: Desired ending direct materials 36,000 pounds Total materials required 54,000 pounds Direct materials purchases 47,400 pounds The total direct materials needed for production is (Points: 2) 18,000 pounds. 6,600 pounds. 11,400 pounds. 101,400 pounds. 4. Which of the following would not appear as a fixed expense on a selling and admini-strative expense budget? (Points: 2) Freight-out Office salaries Property taxes Depreciation 5. The following credit sales are budgeted by Roswell Company: January $102,000 February 150,000 March 210,000 April 180,000 The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of April is (Points: 2) $185,160. $168,000. $180,000. $176,400. 6. Which one of the following sections would not appear on a cash budget? (Points: 2) Cash receipts Financing Investing Cash disbursements 7. Stanbrough Company has the following budgeted sales: July $100,000, August $150,000, and September $125,000. 40% of the sales are for cash and 60% are on credit. For the credit sales, 50% are collected in the month of sale, and 50% the next month. The total expected cash receipts during September are (Points: 2) $140,000. $132,500. $131,250. $125,000. 8. Which one of the following budgets would be prepared for a manufacturer but not for a merchandiser? (Points: 2) Direct labor budget Cash budget Sales budget Budgeted income statement 9. For a merchandiser, the starting point in the development of the master budget is the (Points: 2) cash budget. sales budget. selling and administrative expenses budget. budgeted income statement. 10. A purchases budget is used instead of a production budget by (Points: 2) merchandising companies. service enterprises. not-for-profit organizations. manufacturing companies. I NEED THESE ANSWERS WITHIN 60 MINUTES THIS IS A TIME QUIZ", "transcribed_text": "", "related_book": { "title": "Auditing Cases An Active Learning Approach", "isbn": "0130674842, 978-0130674845", "edition": "2nd Edition", "authors": "Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/64ed8a8041add_6938.jpg", "uri": "\/textbooks\/abnormal-psychology-clinical-perspectives-on-psychological-disorders-1st-edition-9781266566899", "see_more_uri": "" }, "free_related_book": { "isbn": "1642970328", "uri": "\/textbooks\/attract-happiness-take-charge-of-your-life-1st-edition-978-1642970326-281295", "name": "Attract Happiness Take Charge Of Your LIfe", "edition": "1st Edition" }, "question_posted": "2024-06-28 06:54:14", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-13", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/selma-and-patty-bouvier-are-twins-and-both-work-at", "description": "Selma and Patty Bouvier are twins and both work at the Springfield DMV. Selma and Patty Bouvier decide to save for retirement, which is 35 years away. Theyll both receive an 8 percent annual return...", "stars": 3 }, { "url": "\/study-help\/introduction-to-probability-statistics\/provide-suitable-sample-spaces-for-each-of-the-following-experiments-1981505", "description": "Provide suitable sample spaces for each of the following experiments. For each sample space, specify whether it is finite, infinitely countable or uncountable. (a) Two throws of a die (b) Gender of...", "stars": 3 }, { "url": "\/rena-reynolds-one-of-your-firms-workers-has-just-come", "description": "Rena Reynolds, one of your firm's workers, has just come into the payroll department and says to you: ''I am thinking of amending my Form W-4 so that an additional $10 is withheld each week. That way...", "stars": 3 }, { "url": "\/study-help\/questions\/considere-la-siguiente-informacin-de-los-estados-financieros-cuenta-saldo-9865107", "description": "Considere la siguiente informacin de los estados financieros: Cuenta Saldo inicial Balance final Inventario ps 18,600 ps 19,400 Cuentas por cobrar 4200 4500 Cuentas por pagar 5,800 5,200 Las ventas...", "stars": 3 }, { "url": "\/study-help\/questions\/home-learning-tasks-should-be-easy-to-prepare-for-and-5127572", "description": "Home learning tasks should be easy to prepare for and require a limited time commitment by family members. Group of answer choices True False", "stars": 3 }, { "url": "\/study-help\/questions\/is-there-a-common-thread-in-the-two-situations-of-1002693", "description": "Is there a common thread in the two situations of personal gain? What is different about the Gates scenario and those of the Birmingham officials?", "stars": 3 }, { "url": "\/study-help\/questions\/should-you-be-able-to-sue-mcdonalds-if-you-spill-1002567", "description": "Should You be Able to Sue McDonalds if You Spill Coffee on Yourself? If you talk about lawsuits today, some people will tell you that a lot of them are frivolous. There are a few famous cases that...", "stars": 3 }, { "url": "\/study-help\/questions\/tlw-consulting-has-been-concerned-about-declining-profitability-and-the-1002600", "description": "TLW Consulting has been concerned about declining profitability and the president has asked you to evaluate productivity over the past two years. After several weeks, you have managed to collect the...", "stars": 3 }, { "url": "\/study-help\/questions\/evaluate-some-of-the-theoretical-frameworks-that-have-been-used-1002696", "description": "Evaluate some of the theoretical frameworks that have been used to explain the HRM performance in organizations.", "stars": 3 }, { "url": "\/study-help\/questions\/create-rewards-structure-for-the-sales-and-marketingdepartments-for-a-1002626", "description": "Create rewards structure for the sales and marketingdepartments for a company of your choosing. Attention should be placed on creating a strategy that not only builds continuity among the 2...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/hotel-occupancy-in-tokyo-is-low-managers-tried-different-tactics-4257681", "next": "\/study-help\/questions\/14which-method-of-evaluating-capital-projects-assumes-that-cash-inflows-4257683" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "1. Why are budgets useful in the planning process? (Points: 2) They", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/1-why-are-budgets-useful-in-the-planning-process-points-4257682" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }1" } }