answer the following

12.The following information was taken from Southgate Industry's cash budget for the month of July: Beginning cash balance Cash receipts Cash disbursements $480,000 304,000 544,000 f th e company has a policy of maintaining a minimum end of the month cash balance of $400,000, the amount the company would have to borrow is a. $160,000. b. $80,000. c. $240,000. d. $96,000. 13. For a merchandiser, the starting point in the development of the master budget is the a. cash budget. b. sales budget c. selling and administrative expenses budget. d. budgeted income statement. 14. Grey Company has 24,000 units in beginning finished goods. If sales are expected to be 120,000 units for the year and Grey desires ending finished goods of 30,000 units, how many units must the company produce? a. 114,000 b. 120,000 c. 126,000 d. 150,000 Chapter 14 15. What is budgetary control? Another name for a flexible budget a. b. The degree to which the CFO controls the budget The use of budgets in controlling operations The proce c. d. ss of providing information on budget differences to lower level managers a. The static budget contains only fixed costs, while the flexible budget contains only b. The static budget is prepared for a single level of activity, while a flexible budget is c. The static budget is constructed using input from only upper level management, while d. The static budget is prepared only for units produced, while a flexible budget reflects 16. What is the primary difference between a static budget and a flexible budget? variable costs adjusted for different activity levels a flexible budget obtains input from all levels of management. the number of units sold