3. Which of the following statements is NOT correct concerning the a) It is not necessary to prepare any other budgets before pre t h Ca Budget m e b) The Cash Budget should be prepared before the Buded Inco e) The Cash Budget should be prepared before the Budgeted Balance Sheet d) The Cash Budget builds on earlier budgets and schedules as well as additional data the balance is 6. GECO Inc. is working on its cash budget for January. The budgeted beginning $41,000. Budgeted cash receipts total $114,000 and budgeted cash disbursements total $113,000. The desired ending cash balance is $60,000. The excess (deficiency) of cash available over disbursements for January will be: a) $42.000 b) $155.000 c) $40,000 d) $1,000 Beginning cash balance Add cash receipts (all sales are for cash)... Total cash available....... Less cash disbursements....... Excess (deficiency) of cash available over disbursements 541 000 114.000 155.000 113.000 $42.000 7. African Company manufactures and sells women's skirts. Each skirt (unit) requires 2.5 yards of cloth. Selected data from African's master budget for next quarter are shown below: July August September 6,000 8,000 9.000 Budgeted sales in units) 8,000 10,500 12,000 Budgeted production (in units) Each unit requires 1.5 hours of direct labor, and the average hourly cost of African's direct is $10. Required: Calculate the direct labor cost in September? a) $135,000 b) $120,000 c) $157,500 d) $180,000 8. Which of the following statement is related to the Regression Method? a. It uses to analyze fixed cost. b. It uses to analyze profit c. It is a very simple method to apply like the High-Low Method. d. It uses all the points to estimate the fixed and variable of mixed costs