ACCT 434 Week 2 Quiz ( New ) For more course tutorials visit www . uophelp . com
sale and the remainder in the month following the sale . Cost of purchases of inventory each month are 70 % of the next month ' s projected total sales . ll purchases of inventory are on account ; 25 % are paid in the month of purchase , and the remainder is paid in the month following the purchase . Brenton ' s budgeted total cash payments in March for inventory purchases are =========================================
ACCT 434 Week 2 Quiz ( New ) For more course tutorials visit www . uophelp . com
1 . Question : ( TCO 2 ) Benchmarking is Question 2 . Question : ( TCO 2 ) To gain the benefits of budgeting , _____ must understand and support the budget . Question 3 . Question : ( TCO 2 ) Financial budgets include the Question 4 . Question : ( TCO 2 ) A flexible budget Question 5 . Question : ( TCO 2 ) A favorable variance indicates that Question 6 . Question : ( TCO 2 ) Performance evaluation using variance analysis should guard against Question 7 . Question : ( TCO 2 ) Overhead costs have been increasing due to all of the following except Question 8 . Question : ( TCO 2 ) Katie Enterprises reports the yearend information from 20X8 as follows : Sales ( 70,000 units ) $ 560,000 ; Cost of goods sold 210,000 ; Gross margin 350,000 ; Operating expenses 200,000 ; Operating income $ 150,000 . Katie is developing the 20X2 budget . In 20X2 , the company would like to increase selling prices by 4 %, and as a result expects a decrease in sales volume of 10 %. All other operating expenses are expected to remain constant . Assume that COGS is a variable cost and that operating expenses are a fixed cost . What is budgeted cost of goods sold for 20X2 ? Question 9 . Question : ( TCO 2 ) Hester Company budgets on an annual basis for its fiscal year . The following beginning and ending