Flexible Budget Assignment | Top Universities

32) Saniya Corp. is preparing their budget for the second quarter and provides the following data: Apr $20,000 May $24,000 Jun $23.000 Budgeted purchases of direct materials Budgeted Cash Payments for Purchases of direct materials 60% of previous month purchases 40% of current month purchases Total cash payments Apr 56,000 8000 $14.000 May Jun $12,000 $14,400 9000 9200 1.600523600 Assume that accounts payable pertains only to suppliers of direct materials inventory. Based on the above data, the amount of Accounts Payable that should be shown in the budgeted balance sheet as of June 30 ls A) $23,600 B) $13,800 C) $14,400 D) $9200 33) Which of the following would not appear on a cash budget for a manufacturer A) Salaries paid B) Cash payments for direct materials purchases C) Depreciation Expense D) Utilities paid

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34) Infinity Clock Company prepared the following static budget for the year: Static Budget Units/Volume 5000 Per Unit $7.00 1.00 Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income/(Loss) $35.000 5000 30,000 3000 $27.000 if a flexible budget is prepared at a volume of 7800 units, calculate the amount of operating Income. The production level is within the relevant range. A) $3000 B) $43,800 C) $7800 D) $27,000 35) Which of the following amounts of a flexible budget remains constant, within the specified relevant range, when the sales volume changes? A) total contribution margin B) total fixed costs C) total sales revenue D) total variable costs 36) 36) Which of the following amounts of flexible budget changes, within the specified relevant range, with changes in sales volume? A) total contribution margin B) variable cost per unit C) total fixed costs D) sales price per unit 37) Which of the following is the correct formula for measuring a cost variance? A) Cost Variance – (Actual Cost Standard Cost) Actual Quantity B) Cost Variance (Actual Cost – Standard Cost) / Actual Quantity C) Cost Variance – (Actual Cost – Standard Cost) Actual Quantity D) Cost Variance (Actual Cost – Standard Cost) – Actual Quantity. Get Accounting Homework Help Today.

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