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National Telephone company has been forced by competition to put much more emphasis on planning and controlling its costs. Accordingly, the company's controller has suggested initiating a formal budgeting process. Which of the following steps will NOT help the company gain maximum acceptance by employees of the proposed budgeting system? a. Implementing the change quickly b. Including in departmental responsibility reports only those items that are under the department manager's control. c. Demonstrating top management support for the budgeting program d. Ensuring that favorable deviations of actual results from the budget as well as unfavorable deviations, are discussed with the responsible managers Benchmark Manufacturing Company plans to sell 48,000 units during the month. If the company has 10,000 units on hand at the start of the month, and plans to have 8,000 units on hand at the end of the month, how many units must be produced during the month? a. 48,000 units b. 46,000 units c. 50,000 units d. 56,000 units A project net present value, ignoring income taxes is affected by: a. The net book value of an asset that is replaced. b. The depreciation on an asset that is replaced. c. The depreciation to be taken on assets used directly on the project. d. Proceeds from the sale of an asset that is replaced. Lennon Company has a cash balance of $36,000 on April 1. The company is require maintain a minimum cash balance of $24,000. During April expected cash receipts $180,000. Expected cash disbursements during the month total $208,000. During the company will need to borrow: a. $8,000 b. $12,000 c. $16,000 d. $28,000 There are various budgets within the master budget. One of these budgets is the production budget. Which of the following BEST describes the production budget? a. It details the required direct labor hours. b. It details the required raw materials purchases. c. It is calculated based on the sales budget and the desired ending inventory d. It summarizes the costs of producing units for the budget period