Author Question: Listed below are elements of the master budget. Determine whether each budget is an operating budget ... (Read 120 times)

geodog55 · **on:** Mar 6, 2021

Question 1

Favata Company has the following information:

Month

Budgeted Sales

June

$60,000

July

51,000

August

40,000

September

70,000

October

72,000

In addition, the cost of goods sold rate is 70% and the desired inventory level is 30% of next month's cost of sales.

Required:
Prepare a purchases budget for July through September.

Question 2

Listed below are elements of the master budget. Determine whether each budget is an operating budget or a financial budget. Place an O for operating budget or F for a financial budget.

1.	Capital expenditures budget

2.	Cost of goods sold budget

3.	Revenues budget

4.	Budgeted statement of cash flows

5.	Distribution costs budget

6.	Marketing costs budget

7.	Cash budget

8.	Direct materials cost budget

9.	Budgeted balance sheet

10.	Budgeted income statement

harveenkau8139 · **Reply #1 on:** Mar 6, 2021

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 44% of students answer this correctly