Question 12.12. Which statement is applicable to Not-for-profit entities? (Points : 2)

They do not use responsibility accounting. They utilize responsibility accounting in trying to maximize net income. They utilize responsibility accounting in trying to minimize the cost of providing services. They have only noncontrollable costs.

Question 13.13. The master budget of a company shows that the planned activity level for next year is expected to be 100,000 machine hours. At this level of activity, the following manufacturing overhead costs are expected: Indirect labor $480,000 Machine supplies 120,000 Indirect materials 140,000 Depreciation on factory building 80,000 Total manufacturing overhead $820,000 A flexible budget for a level of activity of 120,000 machine hours would show how much total manufacturing overhead costs? (Points : 2)

$. 820,000 $. 940,000 $984,000. $968,000.

Question 14.14. What does a master budget consists of? (Points : 2)

interrelated financial budgets and operating budgets. financial budgets and a long-term plan. an interrelated long-term plan and operating budgets. all the accounting journals and ledgers used by a company.

Question 15.15. What is the proper preparation sequencing of the following budgets?

Budgeted Balance Sheet

Sales Budget

Selling and Administrative Budget

Budgeted Income Statement

(Points : 2)

1, 2, 3, 4 1, 4, 3, 2 2, 3, 1, 4 2, 3, 4, 1

Question 16.16. Given below is an excerpt from a management performance report: Budget Actual Difference Contribution margin $1,200,000 $1,160,000 $40,000U Controllable fixed costs $400,000 $440,000 $40,000U What can you deduce regarding the manager's overall performance? (Points : 2)

It is 10% below expectations. It is 10% above expectations. It is equal to expectations. It cannot be determined from the information provided

Question 17.17. A company's budgeted manufacturing costs for 50,000 squares of shingles are: Fixed manufacturing costs $30,000 Variable manufacturing costs $20.00 per square Arthur produced 45,000 squares of shingles during March. How much are budgeted total manufacturing costs in March? (Points : 2)

$900,000 $930,000 $980,000 $1,030,000

Question 18.18. At 18,000 direct labor hours, the flexible budget for indirect materials is $36,000. If $37,600 are incurred at 18,400 direct labor hours, how much difference for indirect materials should the flexible budget report should show ? (Points : 2)

$800 unfavorable. $800 favorable. $1,600 unfavorable. $1,600 favorable.