ch 5 connect Flashcards
A budget that is prepared with the full cooperation of managers at all levels is a self-imposed or ???
budget.
parcipitative
When a manager creates a budget that is too easy to attain, Blank______ occurs.
budgetary slack
The annual master budget file includes the Blank______ from last year because it is needed for the schedule of expected cash collections
balance sheet
Which of the following is needed to prepare a sales budget?
The budgeted number of units to be sold
To calculate total sales on the sales budget, multiply budgeted sales in units by
sales price per unit
how to find required purchases
budgeted sales+ ending inventory-beginning inventory
Which of the following budgets are directly based on information from the sales budget?
-production
-S&A
Required borrowings on a cash budget is calculated by Blank______.
adding the desired ending cash balance to the amount of the cash deficiency
WHERE DOES the inventory come from
when doing repayments how do you do it
amt for month X interest% (amt of months left in quarter) add it all with the rest
what to not forget when doing repayment colum
()
in the cash budget- what is the quarter amt for beginning cash balance
cash balance from 1st quarter
Sales on the inc statement
sales q1+q2+q3
how to find accts rec on budgeted balance sheet for merchandising company
budgeted sales X credit %
how to find Retained earnings
retained earnings (given) + net income
