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1. Which budgeting approach is most likely to prevent "budget creep" (unnecessary spending carried over from year to year)?
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B.
C.
D.

Question 1 of 10

2. Who is the primary "Customer" of Managerial Accounting reports?
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D.

Question 2 of 10

3. Why are there "No Standards" (like GAAP) for Managerial Accounting?
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D.

Question 3 of 10

4. Production is 3,600 units. It takes 3 hours to make a unit. The wage is $10/hr. What is the Direct Labor Cost?
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D.

Question 4 of 10

5. Why is the "Capital Budget" separated from the "Operating Budget"?
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D.

Question 5 of 10

6. A company forecasts Sales of 4,000 units. They want Ending Inventory of 1,000 units. Beginning Inventory is 875 units. How many units must be produced?
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D.

Question 6 of 10

7. How does a "Budgeted Income Statement" differ from a "Cash Budget"?
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C.
D.

Question 7 of 10

8. You sell 3,200 units. Variable selling costs are $4/unit. Fixed selling costs are $26,000. What is the total Selling Expense?
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B.
C.
D.

Question 8 of 10

9. A department works 10,000 hours. Variable overhead is $5/hr. Fixed overhead is $35,000. What is the total Overhead Cost?
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B.
C.
D.

Question 9 of 10

10. Q1 Sales are $280,000. Q2 Sales are $320,000. What is the total Revenue for the first half of the year?
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B.
C.
D.

Question 10 of 10


 

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