5. The cash budget is part of the

(A) Revenue budget

(B) Operating budget

(C) Financial budget

(D) Budgeted balance sheet

6. Under variable costing, which manufacturing cost is expensed as a period cost?

(A) Direct materials

(B) Variable manufacturing overhead

(C) Fixed manufacturing overhead

(D) Direct labour

7. Under variable costing, which of the following costs are assigned to inventory?

Variable Selling & Administrative Costs Variable Factory Overhead Costs

(A) Yes No

(B) No Yes

(C) Yes Yes

(D) No No

8. Which of the following would appear on both the budgeted income statement and on the schedule of expected cash disbursements for operating expenses?

(A) Depreciation expense

(B) Rent expense

(C) Sales commission expense

(D) Both B and C