Question Completion Status: QUESTION 26 There are various budgets within the mas

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Question Completion Status: QUESTION 26 There are various budgets within the master budget. One of these budgets is the production budget. Which of the following BEST describes the production budget? O It details the required direct labor hours. O It details the required raw materials purchases. 0 It is calculated based on the sales budget and the desired ending nventory. O It summarizes the costs of producing units for the budget period. QUESTION 27 Which of the following statements is NOT correct concerning the Cash Budget? O It is not necessary to prepare any other budgets before preparing the Cash Budget. O The Cash Budget should be prepared before the Budgeted Income Statement. O The Cash Budget should be prepared before the Budgeted Balance Sheet. > O The Cash Budget builds on earlier budgets and schedules as well as additional data. QUESTION 28 The basic idea underlying responsibility accounting is that a manager should be held responsible for those items-and only those items-that the manager can actually control to a significant extent O True False QUESTION 29 The master budget consists of a number of separate but interdependent budgets. True O False Click Save and Submit to save and submit. Click Save All Answers to save all answers Save All Ans

Explanation / Answer

Q26 ) Production budget is that budget which is prepare on the basis of sales budget unit and desired ending inventory

unit

Production budget calculate no of units of products that must be manufactured for sales unit and required maintaining ending inventory unit..

so answer is c) It is calculated based on sales budget and the desired ending inventory

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