Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. in regards to a companys production budget, whi

1. In regards to a companys production budget, which of the following is true? a)...

70.2K

Verified Solution

Question

Accounting

1. In regards to a companys production budget, which of the following is true?

a) The budget for direct labor begins with the required production (in units) from the production budget.

b) The production budget details the required raw materials purchases.

c) The production budget details the number of direct labor hours required.

d) If the number of units in finished goods inventory at the end of the period is less than the number of units at the beginning, then the expected number of units sold is less than the number of units to be produced during the period.

2. Which of the following statements about budgeting is correct?

a) The starting point to preparing a companys master budget is preparation of a cash budget.

b) A companys production budget is prepared typically prior to completion of the sales budget.

c) One of the drawbacks of budgets is that they are of little value in uncovering potential bottlenecks.

d) A continuous budget is a 12-month budget that rolls forward one month as the current month is completed.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

General Management
1.2K views

What does the United States still need to learn in order to create policies that will...

Biology
1.2K views

In Julius Caesar, Shakespeareutilizes many types of irony.Which of the following bestdefines "situational irony"?A. words...

Physics
1.2K views

You are in a zombie-themed paintball shooting range, armed with a spring-loaded paintball gun. The...

Physics
1.2K views

A body of mass m kg initially at rest attains a velocity of v m...

Basic Math
1.2K views

A farmer is building a triangular enclosure. He has alreadybuilt 2 sides. The first side...

Calculus
1.2K views

What is the area of AABC such that b = 28 centimeters, c = 16...

Calculus
1.2K views

A pilot is flying over a straight highway. He determines the angles of depression to...

Algebra
1.2K views

A town has a population of 17000 and grows at 3% every year. What will...

Accounting
1.2K views

The country I chose is China, thank you! I. Global Business: For this part...

Accounting
1.2K views

Ayayai Corporation issues a $746,000,5%, five-year note payable on January 1,2024. The terms provide for...

Accounting
1.2K views

M1Q3 Chandler Packaged Treats (CPT) sells a specialty pet...

Accounting
1.2K views

Moore contracted in writing to sell her 2012 Hyundai Santa Fe to Hammer for $16,500....