1)The _______________ is an example of financial budgets. Budgeted balance sheet

Question

1)The _______________ is an example of financial budgets.

Budgeted balance sheet

Sales budget

Direct material budget

Budgeted income statement

2)

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

production budget

sales budget

purchases budget

capital budget

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

True

False

4)

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

5)

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

Insurance

Supplies

Supervisor's salaries

Maintenance

Budgeted balance sheet

Sales budget

Direct material budget

Budgeted income statement

Explanation / Answer

1.D Budgeted Income Statement

Sales and Direct Material Budgets are Operating Budgets

2.D Capital Budget

Rest all are Operating budgets

3.True

Cash Budget is a part of financial budget

4.B High-Low Method

Variable Cost per Unit = Difference in Cost/Difference in Volume (Units)

5.A. Insurance

Contains some fixed charge + varies with volume

Supplies and Maintenance are variable costs while Supervisor’s salary is a fixed cost

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