BUSN 278 Week 5 Quiz

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BUSN 278 Week 5 Quiz

1.Question :(TCO 7) The culmination of preparing operating budgets is the:
Student Answer: pro forma balance sheet.
 production budget.
 cash budget.
 pro forma income statement.

 

 2.Question :(TCO 7) In a production budget, the units to be produced are the budgeted sales units plus:
Student Answer: beginning inventory.
 desired ending inventory.
 desired ending inventory plus beginning inventory.
 desired ending inventory minus beginning inventory.

 

 3.Question :(TCO 7) The production budget shows planned sales of 26,400. Desired ending inventory is 4,200. Units to be produced are 28,500. What is the beginning inventory?
Student Answer: 2,100
 4,200
 5,000
 6,300

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 4.Question :(TCO 7) The direct materials budget shows:

Units to be produced3,000
Production needs12,000
Total needs13,200

What are the direct materials per unit?

Student Answer: 0.44 pounds
 4.0 pounds
 4.4 pounds
 Cannot be determined from the data provided.

 

 5.Question :(TCO 7) ABC Company expects the following sales and collection pattern for the last four months of the year:

MonthCash SalesCredit SalesTotal Sales
September$25,000$65,000$90,000
October$28,000$72,000$100,000
November$26,000$68,000$94,000
December$30,000$71,000$101,000

·         5% of credit sales are collected in the same month
·         65% of sales are collected in the following month
·         25% of sales are collected in the second following month
What are the projected cash collections for the month of December?

Student Answer: $65,750
 $92,200
 $95,750
 $99,000

 

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