7. When the master budget is complete, one product produced is a. Sales volume forecasts for as many periods as required b. An internal control analysis c. Projected or Pro Forma financial statements d. An audit opinion e. None of the above

8. The document created to issue materials to the WIP account is a a. Materials requisition b. Cost of Goods Sold Statement c. Standard cost sheet d. Cost of Goods Manufactured Statement e. None of the above

9. Which of the following is a description of the purpose of the physical flow analysis? a. Direct Materials Mix Variance b. Cost of Goods Sold Statement c. Goods Available for Completion = Units completed + Units in Ending Inventory d. Cost of Goods Manufactured Statement e. None of the above

10. If the number of units in ending inventory are less than expected, which of the following are likely explanations? a. Theft b. Miscount c. Excessive waste d. Any or All of the above e. None of the above