Question
In: Accounting
Once the budgeted income statement is prepared, the ____ budget must be prepared prior to the...
Once the budgeted income statement is prepared, the ____ budget
must be prepared prior to the prepartion of the budgeted balance
sheet.
a) cash
b) sales
c) operating expense
d) purchases
Solutions
Expert Solution
Answer is A. Cash budget.
Explanation:
After preparation of Budgeted income statement through sales budgets, production budget, raw material budget, labor budget, expense budget, the next step is to prepare cash budget before Balance sheet for the budget is taken up.
ekkarill92 answered 2 years agoRelated Solutions
The budgeted income statement is typically prepared before the budgeted balance sheet. True False
The budgeted income statement is typically prepared before the
budgeted balance sheet. True False
-budgeted income statement – direct materials budget – production budget – sales budget -sales budget –...
-budgeted income statement – direct materials budget –
production budget – sales budget
-sales budget – production budget – direct materials budget –
budgeted income statement
Who would typically be responsible for the direct
material quantity variance?
-the production manager
-the chief financial officer
-the purchasing manager
-the human resources manager
Which of the following is not a component of the
operating budget?
-sales budget
-selling and administrative budget
-Budgeted balance sheet
-raw materials purchases budget
Top-down budgeting is:
-when...
Please assist me in completing the last three items: Cash Budget, Budgeted Income Statement and Budgeted...
Please assist me in completing the last three items:
Cash Budget, Budgeted Income Statement and Budgeted Balance Sheet.
I am stuck. Thanks in advance.
The management of Zigby Manufacturing prepared the following
estimated balance sheet for March 2017:
ZIGBY MANUFACTURING
Estimated Balance Sheet
March 31, 2017
Assets
Cash
$
80,000
Accounts
receivable
364,000
Raw materials
inventory
96,000
Finished goods
inventory
364,800
Total current
assets
904,800
Equipment,
gross
610,000
Accumulated
depreciation
(155,000
)
Equipment,
net
455,000
Total
assets
$
1,359,800
Liabilities...
The following budgeted income statement has been prepared for XY company for the months of January...
The following budgeted income statement has been prepared for XY
company for the months of January to April 2020
Jan Feb Mar April
Le000 Le000 Le000 Le000
Sales 60.0 50.0 70.0 60.0
Costs of production 50.0 55.0 32.5 50.0
(increase)/decrease in inventory (5.0) (17.5) 20.0 (5.0)
Cost of sales 45.0 37.5 52.5 45.0
Gross Profit 15.0 12.5 17.5 15.0
Administration and selling overhead (8.0) (7.5) (8.5) (8.0)
7.0 5.0 9.0 7.0
Additional information:
40% of the production cost relates to...
Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., with...
Budgeted Income Statement and Supporting Budgets
The budget director of Birds of a Feather Inc., with the
assistance of the controller, treasurer, production manager, and
sales manager, has gathered the following data for use in
developing the budgeted income statement for January:
Estimated sales for January:
Birdhouse
6,000 units at $55 per unit
Bird feeder
4,500 units at $75 per unit
Estimated inventories at January 1:
Direct materials:
Wood
220 ft.
Plastic
250 lb.
Finished products:
Birdhouse
300 units at...
Budgeted Income Statement with CVP Madison Booksellers is planning a budget for 2018. The estimate of...
Budgeted Income Statement with CVP
Madison Booksellers is planning a budget for 2018. The estimate of
sales revenue is $3,200,000 and of cost of goods sold is 70 percent
of sales revenue. Depreciation on the office building and fixtures
is budgeted at $120,000. Salaries and wages are budgeted at
$200,000. Advertising has been budgeted at $180,000 and utilities
should amount to $140,000. Income tax is estimated at 40 percent of
operating income.
Required
a. Prepare a budgeted income statement for...
Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., with...
Budgeted Income Statement and Supporting Budgets
The budget director of Birds of a Feather Inc., with the
assistance of the controller, treasurer, production manager, and
sales manager, has gathered the following data for use in
developing the budgeted income statement for January:
Estimated sales for January:
Birdhouse
6,000 units at $55 per unit
Bird feeder
4,500 units at $75 per unit
Estimated inventories at January 1:
Direct materials:
Wood
220 ft.
Plastic
250 lb.
Finished products:
Birdhouse
300 units at...
Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., with...
Budgeted Income Statement and Supporting Budgets
The budget director of Birds of a Feather Inc., with the
assistance of the controller, treasurer, production manager, and
sales manager, has gathered the following data for use in
developing the budgeted income statement for January:
Estimated sales for January:
Birdhouse
6,000 units at $55 per unit
Bird feeder
4,500 units at $75 per unit
Estimated inventories at January 1:
Direct materials:
Wood
220 ft.
Plastic
250 lb.
Finished products:
Birdhouse
300 units at...
Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., with...
Budgeted Income Statement and Supporting Budgets
The budget director of Birds of a Feather Inc., with the
assistance of the controller, treasurer, production manager, and
sales manager, has gathered the following data for use in
developing the budgeted income statement for January:
Estimated sales for January:
Birdhouse
6,000 units at $55 per unit
Bird feeder
4,500 units at $75 per unit
Estimated inventories at January 1:
Direct materials:
Wood
220 ft.
Plastic
250 lb.
Finished products:
Birdhouse
300 units at...
Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., with...
Budgeted Income Statement and Supporting Budgets
The budget director of Birds of a Feather Inc., with the
assistance of the controller, treasurer, production manager, and
sales manager, has gathered the following data for use in
developing the budgeted income statement for January:
following data for use in developing the budgeted income
statement for January:
Estimated sales for January:
Birdhouse
6,000 units at $55 per unit
Bird feeder
4,500 units at $75 per unit
Estimated inventories at January 1:
Direct materials:...
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