Determine the expected annual sales for the sales budget

Assignment Help Accounting Basics

Reference no: EM13485895

1.As part of the initial investment a partner contributes equipment that had a cost of 50,000 and accumulated depreciation of 35,000. If the partners agree on a valuation of 30,000 for the equipment, what amount should be debited to the office equipment account?

a. 15,000

b. 20,000

c. 30,000

d. 50,000

2.Which of the following budgets allow for adj. in activity levels?

a. Static Budget

b. Continuous Budget

c. Zero-Based Budget

d. Flexible Budget

3.Pipe Co. has a beginning inventory of 10,000 units. Sales are expected to be 30,000 units. The required ending inventory is 8,000 units. How many units must be produced?

a. 28,000

b. 30,000

c. 32,000

d. 48,000

4.Preparation of a cash budget takes all but which of the following into consideration?

a. Depreciation expense

b. Cash received from customers

c. Inventory payments

d. Payments to supplies

5.Calculating fixed unit manufacturing costs results in

a. Constant unit costs as production increases

b. Constant unit costs as production decreases

c. Increasing unit cost as production increases

d. Increasing unit cost as production decreases

6.Which of the following is not a benefit of budgeting?

a. Budgeting communicates expected outcomes

b. Budget assists in creating specific goals and objectives

c. Budget establishes benchmarks to measure success

d. Budget guarantees a net income for the company

7.Determine the expected annual sales for the sales budget. Units sell at 8.00 each. Estimated sales are as follows; First quarter 10,000 units, second quarter 15,000 units, third quarter 20,000 units and fourth quarter 30,000 units

a. 6000,000

b. 240,000

c. 800,000

d. 750,000

Reference no: EM13485895

Questions Cloud

Graser trucking 12 billion in assets and its tax rate is : graser trucking 12 billion in assets and its tax rate is 40. its basic earning power bep ratio is 15 and its return on

What are the differences between common stock and preferred : what are the differences between common stock and preferred stock? in which situations do corporations use each kind of

Assume the firm sells their hearing aid components at a : hear right company has identified certain variable and fixed costs in the production of its hearing aid

Calculate the risk premium for each of the following rating : calculate the risk premium for each of the following rating classes of long-term securities assuming that the yield to

Determine the expected annual sales for the sales budget : 1.as part of the initial investment a partner contributes equipment that had a cost of 50000 and accumulated

A firm has after-tax cash flow from operations equal to : a firm has after-tax cash flow from operations equal to 100000. operating working capital increased by 20000 and the

The company estimates that the cost to operate the machine : the confectioners corner inc. would like to buy a new machine that automatically dips chocolates. the dipping operation

What are the differences between common stock and : what are the differences between common stock and preferred stock? in which situations do corporations use each kind of

Compute the payback period for the water slide if otthar : otthars amusement center contains a number of electronic games as well as a miniature golf course and various rides

User Account

All Pages