Question 1
Tanger Products plans to produce 10,000 units in January. Each unit requires 3 pounds of plastic, which costs $2 per pound. What standard material cost would the company use to plan for production?
◦ $3,333
◦ $2
◦ $5,000
◦ $6
Question 2
A collection of smaller budgets that leads to pro-forma financial statements is referred to as the
◦ overall budget.
◦ master budget.
◦ summary budget.
◦ pro-forma budget.
