Question 1

Orr Corporation's manufacturing costs for August when production was 800 units appears below: Direct Material $10 per unit; Direct Labor $4,800; Variable Overhead $4,000; Factory Depreciation $3,000; Factory Supervisory Salaries $2,000; and Other Fixed Factory Costs $1,000. How much is the budgeted manufacturing cost for a month when 900 units are produced?

Question 3

Lewis Hats is planning to sell 600 straw hats. Each hat requires pound of straw and hour of direct labor. Straw costs $0.20 per pound, and employees of the company are paid $22 per hour. Lewis has 80 pounds of straw and 40 hats in beginning inventory and wants to have 50 pounds of straw and 60 hats in ending inventory. How many units should Lewis Hats produce in April?

Question 5

Scobee Company's cash budget showed total available cash less cash disbursements. What does this amount equal?

Question 8

How does a sales forecast differ from a sales budget?

Question 10

Hargrow, Inc. makes and sells a single product, buckets. It takes 30 ounces of plastic to make one bucket. Budgeted production of buckets for the next three months is as follows: August 90,000 units, September 75,000 units, October 65,000 buckets. The company wants to maintain monthly ending inventories of plastic equal to 10% of the following month's production needs. On August 31st, 195,000 ounces of plastic were on hand. The cost of plastic is $0.03 per ounce. How much is the ending inventory of plastic to be reported on the company's balance sheet at September 30?

Question 26

How does long-range planning compare to a master budget?

Question 28

DaDumCompany desired 12,000 pounds of raw material on hand on June 1 and 10,500 on June 30. The number of pounds required for production for June totaled 240,000 pounds. How many pounds of raw material should DaDum purchase in June?

Question 30

Of the following items, which one is found as the bottom amount on an individual budget?

Question 34

In preparing one of its budgets, Hartz, Inc. used information from both the direct materials and direct labor budgets. Which budget was Hartz preparing?

Question 49

0 out of 2 points

At January 1, 2007, Barry, Inc. has beginning inventory of 4,000 widgets. Barry estimates it will sell 35,000 units during the first quarter of 2007 with a 10% increase in sales each quarter. Barry's policy is to maintain an ending inventory equal to 25% of the next quarter's sales. Each

widget costs $1 and is sold for $1.50. How much is budgeted sales revenue for the third quarter of 2007?