1) Budgeted sales for Parker Corporation for the second quarter the year are sho

Question

1) Budgeted sales for Parker Corporation for the second quarter the year are shown below:

The company has a policy that requires the ending inventory in each period to be 15 percent of the following period's sales. Assuming that the company follows this policy, what quantity of production should be scheduled for May?

28,800 units

25,000 units

31,200 units

29,700 units

2)Normally, the bulk of a firm’s cash receipts is:

Sales of assets

Collections from customers (credit sales)

Borrowings

Extraneous revenue

3)Normally, the bulk of a firm’s cash receipts is:

Sales of assets

Collections from customers (credit sales)

Borrowings

Extraneous revenue

4)The _______________ is an example of financial budgets.

Budgeted balance sheet

Sales budget

Direct material budget

Budgeted income statement

5)Which of the following is not an "operating" budget?

production budget

sales budget

purchases budget

capital budget

6)The cash budget is normally included in the financial budget of a firm.

True

False

7 )Given actual amounts of a mixed (semivariable) cost for various levels of output, which of the following will give the most precise mathematical measure of the fixed and variable components with the availability of Excel spreadsheets?

Regression analysis (Least-squares method)

High-low method

Scattergram approach

Bayesian statistics

8)Which one of the following is an example of semi-variable (mixed) costs?

Insurance

Supplies

Supervisor's salaries

Maintenance

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer Q1 C. 31,200 units Statementshowing Computations Paticulars April May June Sales in units       40,000.00       30,000.00       38,000.00 Add Ending Inventory = 15% of next month sales         4,500.00         5,700.00 Total inventory available for sales       44,500.00       35,700.00 Less Beginning Inventory         4,500.00 Units produced       31,200.00 Q2 B. Collections from customers (credit sales)

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