28. Investment center is a unit that has control over both revenues and costs only True bFalse 29. For responsibility accounting to be effective and yield inte doesn't require power of authorit a.) True nded result, responsibility officers y and delegation within its unit. 30. The responsibility centers come under the responsibility of? Cost accountants b. Responsibility managers C. Management accountant d. Auditor 31. Responstbility accounting is more suitable in a centralized environment True b False 32. A master budget consists of a.) Individual budgets made for short-term goals Emphasis is put on cash resources for capital planning c. Interrelated budgets for an action plan for a specific time period d. Focuses on review of progress towards long-term goals 12,000 units, beginning 33. L Company produces hand tools. For March, budgeted sales are finished goods inventory will be 1,200 units, and ending finished goods inventory will 1,400 units. March production will be? a. 10,900 b. 11,800 c. 12,200 d. 14,600 34. Y Company produces chairs. The production budget for the next four months is: July 6,000 units, August 7,000, September 7,500. Each chair requires 2.2 hours of skilled labor (paid $15 per hour). How much will be paid to skilled labor during the Quarter 3 (July- September)? a. $292,500 b. $677,500 c. $676,500 d. $742,500 April, and $180,000 in May. All sales are on credit to be collected 60% in the month of sale, and 40% the month following, what are budgeted cash receipts in April? 35. S Company has forecast sales to be $120,000 in February, $145,000 in March, $170,000 in a. $131,000 b. $84,500 c. $160,000 d. $177,000 $320,000 in May, and $390,000 in June, 55% of purchases are paid for in the month of purchase, the remaining 45% are paid in the following month. What are budgeted cash payments for May? 36. F Company has forecast purchases on account to be $210,000 in March, $270,000 in April, a. $252,000 b. $148,500 c. $285,000 d. $297,500