Economics

1.  The ____________ budget is a major part of the master budget & focuses on the income statement & its supporting schedules.
A. operating    B. cash
C. capital expenditures  D. financial

2.  Which of following budgets is part of the financial budgets?
A. Production budget  B. Budgeted balance sheet
C. Budgeted income statement D. Sales budget

Don't use plagiarized sources. Get Your Custom Essay on
Economics
Just from $13/Page
Order Essay

3.  A Company expects cash sales for July of $15,000, & a 20% monthly increase during August & September. Credit sales of $10,000 in July should be followed by 25% increases during August & September. What are budgeted cash sales & budgeted credit sales for September respectively?
A. $18,000 & $12,500 B. $21,600 & $15,376
C. $23,438 & $14,400 D. $18,750 & $12,000

4.  Kayla’s Toys budgeted sales of $300,000 for the month of November & cost of goods sold equal of 70% of sales. Beginning inventory for November was $50,000 & ending inventory for November is estimated at $55,000. How much are the budgeted purchases for November?
A. $205,000  B. $  95,000
C. $215,000  D. $105,000

5.  A Company manufactures stuffed bears.  The number of bears to be produced in the upcoming three months follows:
Number of teddy bears to be produced in July 12,000
Number of teddy bears to be produced in August 15,000
Number of teddy bears to be produced in September 10,000

Each bear requires 2 pounds of the plastic pellets used as stuffing.  The company has a policy that the ending inventory of plastic pellets each month must be equal to 20% of the following month’s expected production needs.  How many pounds of plastic pellets does The Teddy Bear Company need to purchase in August?
A. 20,000      B.  24,000 C.  28,000 D.  40,000

 

6.  Latimer Corporation collects 35% of a month’s sales in the month of sale, 50% in the month following sale, & 10% in the second month following sale.  The company has found that 5% of their sales are uncollectible.  Budgeted sales for the upcoming four months are:
August budgeted sales  $300,000
September budgeted sales  $280,000
October budgeted sales  $330,000
November budgeted sales  $260,000
The amount of cash that will be collected in Nov is budgeted to be:
A. $  91,000. B. $284,000.
C. $285,500. D. $289,000.

7.  Newton Company is preparing its cash budget for the upcoming month.  The beginning cash balance for the month is expected to be $12,000.  Budgeted cash receipts are $84,000, while budgeted cash disbursements are $72,000.  Newton Company wants to have an ending cash balance of $40,000.  The excess (deficiency) of cash available over disbursements for the month would be:
A. $24,000  B. $(24,000)
C. $112,000  D.  $168,000

8.  Thomario’s Powder Coatings makes payments on its inventory purchases as follows: 25% in the month of purchase, 60% in the following month, & 15% in the second month following purchase. Budgeted inventory purchases for June, July, & August are $15,000, $19,000 & $24,000, respectively. At what amount are cash payments for inventory in August budgeted?
A. $18,750 B. $19,650
C. $8,700  D. $7,650

12.  A Company is preparing its cash budget for the upcoming month.  The budgeted beginning cash balance is expected to be $30,000.  Budgeted cash receipts are $101,000, while budgeted cash disbursements are $123,000.  The Company wants to have an ending cash balance of $45,000.  How much would the Company need to borrow to achieve its desired ending cash balance?
A.   $  8,000   B.   $23,000
C.   $37,000   D.   $53,000

The Quizlet
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Us

Exemplary Academic Writing Service

At TheQuizlet.com, you are guaranteed of quality service from our professional writers. We maintain consistent communication with customers after placing an order to avoid missing anything that may compromise the quality of delivered work.

Top Writers

Our hiring process is rigorous to maintain the desired quality that has become the core of our business. We expose potential writers to an uncompromising selection process that enables TheQuizlet to pick the best out of the rest. TheQuizlet boasts of a competent team of writers, editors, and professors who work towards accomplishing your goals.

Plagiarism-Free Papers

TheQuizlet has an in-house plagiarism software that lowers the probability of delivering plagiarized papers to our clients. Referencing is guided by the format specified by a customer when placing an order. Our writers are conversant with all referencing formats that include APA, MLA, Chicago, Harvard, and Vancouver among others.

24/7 Customer Support

We understand the importance of effective communication and as such, TheQuizlet has a dedicated customer support department that responds to all client needs. You can easily contact our team through a chat window at the bottom left corner. Additionally, clients can reach us through support’s email or a telephone number available on our contact page. Feel free to contact us at any time and our team of experts will solve all your problems.

Swift Delivery and 100% Money-back Guarantee

When placing an order, ensure that you specify the correct deadline to help our writers work around the provided timeline. At TheQuizlet, we deliver our tasks before the projected deadline to give time for the customer to proofread the work before submission. In the event we cannot deliver a paper on time, we initiate contact with the client to renegotiate a new deadline.

Unlimited and Free Revisions

We urge all our customers to request for a revision whenever they identify a need to amend the paper. Since we understand your concerns, TheQuizlet.com does not charge for revisions. Nonetheless, we encourage customers to be genuine when requesting for revisions.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

TheQuizlet is a one-stop shop for all your writing needs. We tackle each customer’s needs differently to improve the quality of outcomes and meet your expectations.

Essays

Academic Help Service

TheQuizlet is committed to delivering quality work on time to ensure our clients get the value for their money.

Admissions

Admission Essays and Professional Writing

Admission essays are personal, as opposed to other papers. For this reason, our team will request for any information that will enable them to deliver quality work, which allows you to convince the admissions board on why you should be granted the application.

Reviews

Editing and Proofreading

Our team comprises of qualified researchers, writers, and editors who go through the different papers before delivering them to our clients. Whether your paper is being written from scratch or you want it to be edited, you can trust TheQuizlet for all your needs.

Reviews

Revision Support

After receiving the final draft, you can request for a revision to incorporate various changes that are aligned with your expectations. All our papers are written in line with the latest writing standards.