Q12: Which one of the following budgets would be the last one prepared in the master budget preparation process?

Select one:

a. Manufacturing overhead budget

b. Cost of goods sold budget

c. Marketing cost budget

d. Budgeted Income Statement

e. Direct labor budget

Q14: An operating budget would not include a

Select one:

a. factory overhead budget

b. production budget

c. budgeted income statement

d. administration expense budget

Q23: Depreciation on the office equipment would appear in which of the following budgets?

Select one:

a. Cash budget

b. Production budget

c. Selling expenses budget

d. General and administrative expenses budget

Q26: Like _______________, selling and administrative expenses are made up of fixed and variable components.

Select one:

a. Direct materials

b. Factory overhead

c. Direct labor

d. Cost of purchase