Question 1// The master budget process usually begins with theO A. Cash BudgetO B. budgeted income statement.O c. Sales budgetO D. capital expenditures budget.Question 2//Which of the following is a budget prepared for various levels of sales volume?O A. Strategic budgetO B. Master budgetO c. Flexible budgetO D. Static budgetQuestion 3//Karen Enterprises manufactures cookware sets and sells the sets to department stores.Karen expects to sell 2600 cookware sets for $220 each in April and 3000 cookware sets for $235 each in May.Sales are 25% cash and 75% on accountCompute the total budgeted sales for May.O A. $705,000O B. $528,750O c. $572,000O D. $176,250Question 4//Green Machine, Inc. has budgeted sales for the first quarter of the next year to be 40.000 unitsThe inventory on hand at the beginning of quarter is 10,000 units.The desired ending inventory is 1000 units. Calculate the budgeted production for the first quarter.O A. 1,000 unitsO B. 41,000 unitsO c. 30,000 unitsO D. 31,000 unitsQuestion 5//Green Manufacturing expects to produce 2400 units in January and 3700 units in February.Green budgets $45 per unit for direct materials.The balance in the Raw Materials Inventory account (all direct materials) on January 1 is $37,250.Green desires the ending balance in Raw Materials Inventory to be 70% of the next month's direct materials needed for production.Desired ending balance for February is $51,800.What is the cost of budgeted purchases of direct materials needed for January?O A. $146,350O B. $108,000O c. $224,550O D. $187,300Question 6// The budgeted production of Green Machine, Inc. is 10,000 units per monthEach unit requires 30 minutes of direct labor to complete. The direct labor rate is $50 per hour.Calculate the budgeted cost of direct labor for the month.O A. $250,000O B. $300,000O c. $500.000O D. $150,000Question 7//Which of the following is the cornerstone of the master budget?O A. The production budgetO B. The budgeted balance sheetO C. The selling and administrative expense budgetO D. The sales budget Question 8///Suppose Kitchen Helpers manufactures cast iron skillets. One model is a 10-inch skillet that sells for $34. Kitchen Helpers projects sales of 675 10-inch skillets per month. The production costs are $5 per skillet for direct materials, $2 per skillet for direct labor, and $1 per skillet for manufacturing overhead. Kitchen Helpers has 55 10-inch skillets in inventory at the beginning of July but wants to have an ending inventory equal to 35% of the next month's sales. Selling and administrative expenses for this product line are $1, 100 per month. Kitchen Helpers is budgeted to produce 856 skillets in July.Compute the total amount budgeted for product costs for July.O A. $5,400O B. $6,848O c. $7,288 O D. $6,762Question 9// From the following details provided by Green, Inc., calculate the predetermined overhead allocation rate, using direct labor hours as the allocation base.Budgeted production unitsVariable overhead cost per unitFixed overhead costs:DepreciationRentDirect Labor HoursFirstQuarter15.000$45SecondQuarter18.000545ThirdQuarter21,000$45FourthQuarter24,000545$3,000$5.00012,500$3.000$5.75014,500$3.000$6,25017,200$3,000$7,25012,800Green. Inc.Manufacturing Overhead BudgetFor the Year Ended December 31. 20XXFirstQuarterSecondQuarterThirdQuarterFourthQuarterBudgeted units to be producedVOH' cost per unit15.000$45Budgeted VOHBudgeted FOH"*$675.00018,00054521,000$4524,000$45$810.000$945,000 S1.080.000DepreciationRent$3.0005,000$3.0005,750$3.0006,25053.0007,250Total budgeted FOHBudgeted manufacturing overhead costs58.000$8.750$9.250$10,250$683.0005818.750 $954.250 $1.090.250O A. $56.47O B. $54.64O C. $62.21O D. $19.13Question 10// Which of the following would not be used in preparing a cash budget for October?O A. Budgeted salaries expense for OctoberO B. Estimated depreciation expense for OctoberO C. Beginning cash balance on October 1O D. Budgeted capital equipment purchases for OctoberQuestion 12//he budgeted balance sheet is part of which element of the master budget?? A. Financial budget? B. Capital expenditures budget? C. Operating budgetO D. None of the aboveQuestion 13//Green Co's sales are collected as follows: 30% in the month of sale, 50% in the next month, and 20% in the following month. November sales were $52,500, and December sales were $84,000If total sales for January are budgeted to be $50,000, what are the expected cash receipts for January?O A. $67,500O B. $52,50O c. $151,500O D. $50,000Question 16//The budgeted production of Green Machine, Inc. is 10,000 units per month.Each unit requires 30 minutes of direct labor to complete. The direct labor rate is $50 per hour.Calculate the budgeted cost of direct labor for the month.O A. $250,000O B. $150,000O c. $500,000O D. $300,000Question 17// opinions O A. $62.21O B. $19.13O c. $56.47O D. $54.64

oIn From the following details provided by Green, Inc., calculate the predetermined overhead allocation rate, using direct labor hours as the allocation base. First Second Third Fourth Quarter Quarter Quarter Quarter Budgeted production units 15,000 18,000 21,000 24,000 Variable overhead cost per unit $45 $45 $45 $45 Fixed overhead costs: Depreciation $3,00d $3,000 $3,000 $3,000 Rent $5,000 $5,750 $6,250 $7,250 Direct Labor Hours 12,500 14,500 17,200 12,800 Green, Inc. Manufacturing Overhead Budget For the Year Ended December 31, 20XX First Second Third Fourth Quarter Quarter Quarter Quarter Budgeted units to be produced 15,000 18,000 21,000 24,000 VOH cost per unit $45 $45 $45 $45 Budgeted VOH $675,000 $810,000 $945,000 $1,080,000 Budgeted FOH" Depreciation $3,000 $3,000 $3,000 $3,000 Rent 5,000 5,750 6.250 Z.250 Total budgeted FOH $8,000 $8,750 $9,250 $10,250 Budgeted manufacturing overhead costs $683,000 $818,750 $954,250 $1,090,250