
College Acct 2- Chapter 8
Flashcard
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Hard
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16 questions
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1.
FLASHCARD QUESTION
Front
Each unit of finished goods requires 4 pounds of raw materials. The ending finished goods inventory equals 10% of the following month's sales. The ending raw materials inventory equals 40% of the following month’s raw materials production needs. If 50,600 pounds of raw materials are required for production in June, then the budgeted raw material purchases for May is closest to:
Back
42,056 pounds
2.
FLASHCARD QUESTION
Front
How many units should the company plan on producing for the month of February? January expected sales: 440,000, January desired ending inventory: 40,000, February expected sales: 400,000, February desired ending inventory: 42,000, March expected sales: 420,000, March desired ending inventory: 40,000
Back
402,000 units
3.
FLASHCARD QUESTION
Front
Sedita Inc. is working on its cash budget for April. The budgeted beginning cash balance is $32,000. Budgeted cash receipts total $175,000 and budgeted cash disbursements total $164,000. The desired ending cash balance is $50,000. What is the excess (deficiency) of cash available over disbursements for April?
Back
$43,000
4.
FLASHCARD QUESTION
Front
When preparing a direct materials budget, the required purchases of raw materials in units equals:
Back
raw materials needed to meet the production schedule + desired ending inventory of raw materials − beginning inventory of raw materials.
5.
FLASHCARD QUESTION
Front
Which of the following is typically the first step in creating a master budget? Options: the sales forecast or sales budget, the cash flow budget, the direct labor budget, the overhead budget.
Back
the sales forecast or sales budget.
6.
FLASHCARD QUESTION
Front
Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $20,000. Budgeted cash receipts total $175,000 and budgeted cash disbursements total $190,000. The desired ending cash balance is $30,000. The excess (deficiency) of cash available over disbursements for January is:
Back
$5,000
7.
FLASHCARD QUESTION
Front
The total number of units produced in July should be:
Back
5,570 units
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