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35. Which budget helps to answer the question: How much raw materials will we need to purchase and what is the cost? a) Schedule of cash collections b) Cash budget c) Production budget d) Direct material budget 36. Raw material costs that can't easily be traced to a finished product or are relatively insignificant are known as: a) Manufacturing overhead b) Selling costs c) Period costs d) Indirect labor 37. According to Management Insight - Louis Vuitton, which of the following is not an example of how the luxury goods manufacturer adopted "lean processes to reduce stockout? a) Sharing sales information from the individual store level to corporate headquarters so that production could be adjusted accordingly. b) Focused on nonvalue-added processes to reduce bottlenecks and wasted time c) Substituted high quality material for sustainable and cheaper materials d) Organized factories into 10-person teams in U-shape clusters 38. Red Company is preparing a cash budget and estimates the following information for the coming period: Total cash available: $114,800 Beginning cash balance $15,100 Total disbursements $133,000 Required minimum cash balance $15,000 What is the cash excess (deficiency) for the period? a) ($15,000) deficiency b) ($117,900) deficiency c) ($3,100) deficiency d) ($18,200) deficiency 39. Managerial accounting helps support which functions of management? a) Recording journal entries b) Planning controlling and directing c) Reporting to creditors and regulators d) Estimating the allowance for doubtful accounts 40. According to Service Company Insight - Olympic Games, what is the large financial challenge when planning for the Olympic Games? a) Budgeting costs against budgeted revenues b) None of these answers c) Establishing athlete compensation d) Obtaining appropriate sponsorship 35. Which budget helps to answer the question: How much raw materials will we need to purchase and what is the cost? a) Schedule of cash collections b) Cash budget c) Production budget d) Direct material budget 36. Raw material costs that can't easily be traced to a finished product or are relatively insignificant are known as: a) Manufacturing overhead b) Selling costs c) Period costs d) Indirect labor 37. According to Management Insight - Louis Vuitton, which of the following is not an example of how the luxury goods manufacturer adopted "lean processes to reduce stockout? a) Sharing sales information from the individual store level to corporate headquarters so that production could be adjusted accordingly. b) Focused on nonvalue-added processes to reduce bottlenecks and wasted time c) Substituted high quality material for sustainable and cheaper materials d) Organized factories into 10-person teams in U-shape clusters 38. Red Company is preparing a cash budget and estimates the following information for the coming period: Total cash available: $114,800 Beginning cash balance $15,100 Total disbursements $133,000 Required minimum cash balance $15,000 What is the cash excess (deficiency) for the period? a) ($15,000) deficiency b) ($117,900) deficiency c) ($3,100) deficiency d) ($18,200) deficiency 39. Managerial accounting helps support which functions of management? a) Recording journal entries b) Planning controlling and directing c) Reporting to creditors and regulators d) Estimating the allowance for doubtful accounts 40. According to Service Company Insight - Olympic Games, what is the large financial challenge when planning for the Olympic Games? a) Budgeting costs against budgeted revenues b) None of these answers c) Establishing athlete compensation d) Obtaining appropriate sponsorship
