All of the following are general-purpose financial statements ...

[Redwolflake15]

All of the following are general-purpose financial statements except
 a. balance sheet
  b. income statement
  c. statement of owner's equity
  d. cash budget

Question 2

What are the budgeted direct-cost rate and the budgeted indirect-cost rate, respectively, per professional labor-hour?
 
  Mark Papers employs 15 full-time employees and 10 trainees. Direct and indirect costs are applied on a professional labor-hour basis that includes both employee and trainee hours. Following is information for 2014:
   Budget Actual
   Indirect costs 200,000 300,000
   Annual salary of each employee 100,000 110,000
   Annual salary of each trainee  25,000  30,000
   Total professional labor-hours 50,000 dlh 60,000 dlh
 
  A) 30.00; 4.50
  B) 35.00; 4.00
  C) 32.40; 5.00
  D) 27.00; 5.00

[Loise Hard]

Answer to Question 1

d

Answer to Question 2

Answer: B