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7. Which of the following is an example of the benchmarking function of the budgeting process? A budget demands integrated input from different business units

7.

Which of the following is an example of the benchmarking function of the budgeting process?

A budget demands integrated input from different business units and functions.

Budgeting requires close cooperation between accountants and operational personnel.

The budget outlines a specific course of action for the coming period.

Budget numbers are used to evaluate the performance of managers.

QUESTION 8

  1. Tennis 20 Corp manufactures toasters. Based on the following, what is the budgeted operating income.

    Budget estimates:
    Selling price per unit $29
    Variable cost per unit $12
    Fixed cost $10,000
    Units expected to be sold 1,000

    $7,000

    $17,000

    $6,000

    $19,000

    QUESTION 9

    Which of the following is considered part of the Financial Budget?

    Capital Expenditure Budget

    Budgeted Income Statement

    Sales Budget

    All of the above are considered part of the Financial Budget.

    QUESTION 10

    The direct materials budget is usually prepared

    before the sales budget.

    after the production budget.

    after the budgeted balance sheet.

    after the cost of goods sold budget.

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