Question :
71. The first budget customarily prepared as part of an entity’s : 1233874
71. The first budget customarily prepared as part of an entity’s master budget is the: A. production budgetB. cash budgetC. sales budgetD. direct materials purchases
72. Machine Manufacturers, Inc. projected sales of 66,000 machines for 2008. The estimated January 1, 2008, inventory is 6,500 units, and the desired December 31, 2008, inventory is 7,000 units. What is the budgeted production (in units) for 2008? A. 65,500B. 66,000C. 66,500D. 65,000
73. The budget that needs to be completed first when preparing the master budget is the: A. Production BudgetB. Sales BudgetC. Cash BudgetD. Capital Expenditures Budget
74. Which of the following budgets is not directly associated with the production budget? A. Direct materials purchases budgetB. Factory overhead cost budgetC. Capital Expenditures budgetD. Direct labor cost budget
75. Below is budgeted production and sales information for Fleming Company for the month of December:
Product XXX
Product ZZZ
Estimated beginning inventory
30,000 units
18,000 units
Desired ending inventory
32,000 units
15,000 units
Region I, anticipated sales
320,000 units
260,000 units
Region II, anticipated sales
190,000 units
130,000 units
The unit selling price for product XXX is $5 and for product ZZZ is $14. Budgeted sales for the month are: A. $2,040,000B. $4,680,000C. $6,692,000D. $8,010,000
76. Below is budgeted production and sales information for Fleming Company for the month of December:
Product XXX
Product ZZZ
Estimated beginning inventory
30,000 units
18,000 units
Desired ending inventory
32,000 units
15,000 units
Region I, anticipated sales
320,000 units
260,000 units
Region II, anticipated sales
190,000 units
130,000 units
The unit selling price for product XXX is $5 and for product ZZZ is $14. Budgeted production for product XXX during the month is: A. 510,000 unitsB. 512,000 unitsC. 542,000 unitsD. 572,000 units
77. Below is budgeted production and sales information for Fleming Company for the month of December:
Product XXX
Product ZZZ
Estimated beginning inventory
30,000 units
18,000 units
Desired ending inventory
32,000 units
15,000 units
Region I, anticipated sales
320,000 units
260,000 units
Region II, anticipated sales
190,000 units
130,000 units
The unit selling price for product XXX is $5 and for product ZZZ is $14. Budgeted production for product ZZZ during the month is: A. 405,000 unitsB. 390,000 unitsC. 387,000 unitsD. 423,000 units
78. Mancini Corporation sells a single product. Budgeted sales for the year are anticipated to be 640,000 units, estimated beginning inventory is 108,000 units, and desired ending inventory is 90,000 units. The quantities of direct materials expected to be used for each unit of finished product are given below.Material A .50 lb. per unit @ $ .60 per poundMaterial B 1.00 lb. per unit @ $1.70 per poundMaterial C 1.20 lb. per unit @ $1.00 per poundThe dollar amount of direct material A used in production during the year is: A. $186,600B. $181,200C. $240,000D. $210,600
79. Mancini Corporation sells a single product. Budgeted sales for the year are anticipated to be 640,000 units, estimated beginning inventory is 98,000 units, and desired ending inventory is 80,000 units. The quantities of direct materials expected to be used for each unit of finished product are given below.Material A .50 lb. per unit @ $ .60 per poundMaterial B 1.00 lb. per unit @ $1.70 per poundMaterial C 1.20 lb. per unit @ $1.00 per pound The dollar amount of direct material B used in production during the year is: A. $1,057,400B. $1,193,400C. $1,026,800D. $1,224,000
80. Mancini Corporation sells a single product. Budgeted sales for the year are anticipated to be 640,000 units, estimated beginning inventory is 98,000 units, and desired ending inventory is 80,000 units. The quantities of direct materials expected to be used for each unit of finished product are given below.Material A .50 lb. per unit @ $ .60 per poundMaterial B 1.00 lb. per unit @ $1.70 per poundMaterial C 1.20 lb. per unit @ $1.00 per pound The dollar amount of direct material C used in production during the year is: A. $746,400B. $724,800C. $824,400D. $758,160
