Help with these 10 questions

Question 1

The budget that is a comprehensive financial plan for the organization as a whole is called a

	a) capital budget
	b) master budget
	c) comprehensive budget
	d) continuous budget

Question 2

Financial budgeting refers to

	a) all budgets of the firm
	b) budgets for cash flows
	c) budgets for sales
	d) budgets for production

Question 3

Which of the following budgets concerns the income-generating activities of the firm?

	a) operating budget
	b) financial budget
	c) capital budget
	d) all of the above

Question 4

Which of the following is considered an operating budget?

	a) budgeted balance sheet
	b) sales budget
	c) cash budget
	d) capital budget

Question 5

The first step in the budgeting process is the preparation of the

	a) production budget
	b) selling and administrative expenses budget
	c) sales forecast
	d) cash budget

Question 6

Of the budgets listed below, which is usually prepared last?

	a) production budget
	b) cash budget
	c) sales budget
	d) overhead budget

Question 7

In the production budget, the total units to be produced is computed as

	a) expected sales - desired ending inventory - beginning inventory
	b) expected sales + desired ending inventory + beginning inventory
	c) expected sales - desired ending inventory + beginning inventory
	d) expected sales + desired ending inventory - beginning inventory

Question 8

Which budget is prepared without dollar amounts?

	a) direct materials purchases budget
	b) overhead budget
	c) production budget
	d) all of the above

Question 9

Jiggy Company plans to sell 33,000 units during the month of May. The company plans to have 2,500 units on hand at the end of the month. If 1,200 units are on hand on May 1, how many units must be produced during May?

	a) 33,000
	b) 35,500
	c) 34,300
	d) 31,800

Question 10

Cal Company uses the following formula for annual overhead: $360,000 + $1.20 for each machine hour used. For the upcoming month, Cal plans to manufacture 6,000 units. Each unit requires 2 machine hours. Cal's budgeted overhead for the month is

	a) $367,200
	b) $37,200
	c) $374,400
	d) $44,400