Z) Question 1 Match the denition to the corresponding term. Continuous Budget [Choose] V Self-Imposed Budget J [Choose ] a rolling one-year budget that starts in the current month and ends 12 months from the current month a corporate practice in which managers are accountable for the differences between budgeted and actual items they control a comprehensive quantitative plan for future cash inflows and outflows a comprehensive quantitative plan of future production needed to meet expected customer demand minimum finished goods inventory levels the process by which managers individually prepare their own budgets, which are reviewed by higher-level managers D Question 2 1 pts Which budget does not directly impact the cash budget? 0 Direct Labor Budget 0 Sales Budget 0 Ending Inventory Budget 0 Direct Materials Budget 0 Selling and Administrative Expense Budget 0 Manufacturing Overhead Budget D Question 3 2 pts KuoKuts makes one product and it provided the following information to help prepare the master budget for its rst four months of operations: 0 The budgeted selling price per unit is $67. Budgeted unit sales for May, June, July, and August are 8,000, 11,000, 14,000, and 13,000 units, respectively. All sales are on credit. 35% of credit sales are collected in the month of the sale and 65% in the following month. The ending nished goods inventory equals 30% of the following month's unit sales. The ending raw materials inventory equals 24% of the following month's raw materials production needs. Each unit ofnished goods requires 6 pounds of raw materials. The raw materials cost $6.00 per pound. 25% of raw materials purchases are paid for in the month of purchase and 75% in the following month. What are the expected cash collections during June? Round your answer to the nearest whole number. Question 4 2 pts Note that the gures in this question differ from those of the previous question. KuoKuts makes one product and it provided the following information to help prepare the master budget for its rst four months of operations: 0 The budgeted selling price per unit is $70. Budgeted unit sales for May, June, July, and August are 8,000, 11,000, 13,000, and 12,000 units, respectively. All sales are on credit. 0 35% of credit sales are collected in the month of the sale and 65% in the following month. 0 The ending nished goods inventory equals 30% of the following month's unit sales. 0 The ending raw materials inventory equals 22% of the following month's raw materials production needs. Each unit ofnished goods requires 6 pounds of raw materials. The raw materials cost $6.00 per pound. o 25% of raw materials purchases are paid for in the month of purchase and 75% in the following month. According to the production budget, how many units should be produced in June? Round your answer to the nearest whole number. Question 5 2 pts Note that the gures in this question differ from those of the previous question. KuoKuts makes one product and it provided the following information to help prepare the master budget for its rst four months of operations: 0 The budgeted selling price per unit is $65. Budgeted unit sales for May, June, July, and August are 8,000, 10,000, 13,000, and 13,000 units, respectively. All sales are on credit. 35% of credit sales are collected in the month of the sale and 65% in the following month. The ending nished goods inventory equals 20% of the following month's unit sales. The ending raw materials inventory equals 19% of the following month's raw materials production needs. Each unit of nished goods requires 5 pounds of raw materials. The raw materials cost $9.00 per pound. 25% of raw materials purchases are paid for in the month of purchase and 75% in the following month. Assume 48,000 pounds of raw materials are needed to meet production in July, how many pounds of raw materials should be purchased in June? Note that with the above given information, you can compute the budgeted pounds of raw material needed to meet production in July, but to solve this problem, ignore your computed number of pounds of raw material needed to meet production in July and use the number given. Round your answer to the nearest whole number. Question 6 Lloyd's produces and sells tennis rackets. The company requires that 24% of the next month's projected sales (in units) are on hand at the end of each month. Lloyd's budgeted sales over the next four months are as follows: Budgeted Sales {in tennis 130,000 130,000 170,000 140,000 rackets) Based on this information, what would be budgeted production in number of units for March? Assume that the production policy has been followed to-date. Round your answer to the nearest whole number. Question 7 2 pts Elordi Engineers Corp. has the following budgeted sales data (in dollars): Credit Sales 290,000 300,000 260,000 310,000 Cash Sales 70,000 70,000 70,000 70,000 The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following sale, and the remainder in the second month following the month of sale. There are no bad debts. What would the budgeted cash receipts during September be? Round your answer to the nearest whole number. Question 8 2 pts Numbers may have changed from previous question. Elordi Engineers Corp. has the following budgeted sales data (in dollars): Credit Sales 290,000 280,000 270,000 3 10,000 Cash Sales 2,000 60,000 70,000 60,000 The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following sale, and the remainder in the second month following the month of sale. There are no bad debts. What would the budgeted accounts receivable balance be at the end of July? Round your answer to the nearest whole number. Question 9 2 pts Big Watches Co. makes one product and it provided the following information to help prepare the master budget for its rst four months of operations: 0 The budgeted selling price per unit is $86. Budgeted unit sales for September, October, November, and December are 17,000, 17,000, 17,000, and 17,000 units, respectively. All sales are on credit. 35% of credit sales are collected in the month of the sale and 65% in the following month. The ending nished goods inventory equals 21% of the following month's unit sales. The ending raw materials inventory equals 22% of the following month's raw materials production needs. Each unit of nished goods requires 11 pounds of raw materials. The raw materials cost $13.00 per pound. 25% of raw materials purchases are paid for in the month of purchase and 75% in the following month. What are the budgeted sales for November? Round your answer to the nearest whole number. Question 10 2 pts Big Watches Co. makes one product and it provided the following information to help prepare the master budget for its rst four months of operations: 0 The budgeted selling price per unit is $82. Budgeted unit sales for September, October, November, and December are 14,000, 20,000, 15,000, and 17,000 units, respectively. All sales are on credit. 35% of credit sales are collected in the month of the sale and 65% in the following month. The ending nished goods inventory equals 21% of the following month's unit sales. The ending raw materials inventory equals 21% of the following month's raw materials production needs. Each unit of nished goods requires 14 pounds of raw materials. The raw materials cost $11.00 per pound. 25% of raw materials purchases are paid for in the month of purchase and 75% in the following month. What is the accounts receivable balance at the start of December? Round your answer to the nearest whole number. Question 11 2 pts Big Watches Co. makes one product and it provided the following information to help prepare the master budget for its rst four months of operations: 0 The budgeted selling price per unit is $88. Budgeted unit sales for September, October, November, and December are 14,000, 17,000, 14,000, and 23,000 units, respectively. All sales are on credit. 0 35% of credit sales are collected in the month of the sale and 65% in the following month. 0 The ending nished goods inventory equals 23% of the following month's unit sales. 0 The ending raw materials inventory equals 29% of the following month's raw materials production needs. Each unit of nished goods requires 11 pounds of raw materials. The raw materials cost $12.00 per pound. o 25% of raw materials purchases are paid for in the month of purchase and 75% in the following month. Assume 53,000 pounds of raw materials are needed to meet production in November, what is the estimated cost of raw materials purchases for October? Note that with the above given information, you can compute the budgeted pounds of raw material needed to meet production in November, but to solve this problem, ignore your computed number of pounds of raw material needed to meet production in November and use the assumed number given. Round your answer to the nearest whole number. Question 12 2 pts M&C makes one product and it provided the following information to help prepare the master budget for its rst four months of operations: 0 The budgeted selling price per unit is $65. Budgeted unit sales for January, February, March, and April are 40,000, 35,000, 39,000, and 32,000 units, respectively. All sales are on credit. 0 35% of credit sales are collected in the month of the sale and 65% in the following month. 0 The ending nished goods inventory equals 23% of the following month's unit sales. 0 The ending raw materials inventory equals 29% of the following month's raw materials production needs. Each unit of nished goods requires 10 pounds of raw materials. The raw materials cost $8.00 per pound. o 25% of raw materials purchases are paid for in the month of purchase and 75% in the following month. Assume 57,000 pounds of raw materials are needed to meet production in March and the cost of raw material purchases in January is $167,000, what are February's estimated cash disbursements for raw material purchases? Note that with the above given information, you can compute the budgeted pounds of raw material needed to meet production in March, but to solve this problem, ignore your computed number of pounds of raw material needed to meet production in March and use the number given. Also ignore any computed number for the budgeted cost for raw material purchases in January and use the number gIven. Round your answer to the nearest whole number