Reference no: EM132533768

Question 1) Which of the following budgets are prepared before the sales budget?

              Budgeted Income Statement       Direct Materials Budget

A)                        Yes                                          Yes

B)                          Yes                                            No

C)                               No                                      Yes

D)                                    No                                      No

A) Choice A

B) Choice B

C) Choice C

D) Choice D

Question 2) Which of the following statements is NOT correct concerning the Manufacturing Overhead Budget?

A) The Manufacturing Overhead Budget provides a schedule of all costs of production other than direct materials and labor costs.

B) The Manufacturing Overhead Budget shows variable and fixed portion of manufacturing overhead.

C) The Manufacturing Overhead Budget shows the expected cash disbursements for manufacturing overhead.

D) The Manufacturing Overhead Budget is prepared before the Sales Budget.