Busn 278 Week 5 Homework 100 All Answers 1 Question Tco 7 The

BUSN 278 Week 5 Homework ***100% All correct answers***

1. Question : (TCO 7) The culmination of preparing operating budgets is the:

pro forma balance sheet.

production budget.

cash budget.

pro forma income statement.

Points Received: 4 of 4
Comments:

2. Question : (TCO 7) The starting point in preparing a master budget is the preparation of the:

production budget.

sales budget.

purchasing budget.

personnel budget.

Points Received: 4 of 4
Comments:

3. Question : (TCO 7) The production budget shows planned sales of 32,000. Beginning inventory is 5,600. Units to be produced are 33,600. What is the desired ending inventory?

4,000

5,600

6,400

7,200

Points Received: 4 of 4
Comments:

4. Question : (TCO 7) If there were 20,000 pounds of raw materials on hand on January 1, 45,000 pounds are desired for inventory at January 31, and 295,000 pounds are required for January production, how many pounds of raw materials should be purchased in January?

295,000 pounds

315,000 pounds

320,000 pounds

360,000 pounds

Points Received: 4 of 4
Comments:

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

Month Cash Sales Credit Sales Total Sales
June $42,000 $82,000 $124,000
July $36,000 $78,000 $114,000
August $41,000 $80,000 $121,000
September $38,000 $83,000 $121,000

•?????????8% of credit sales are collected in the same month
•?????????72% of sales are collected in the following month
•?????????15% of sales are collected in the second following month
What are the projected cash collections for the month of September?

$75,940

$113,940

$118,090

$122,090

Points Received: 4 of 4
Comments: