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Profit Planning
Profit Planning MCQs
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The term planning involves:
the development of future objectives and the preparation of various budgets to achieve these objectives.
the steps taken to ensure that objectives set down by management are attained.
the steps taken to ensure that all parts of the organization function in a manner consistent with organizational policies.
comparing budgeted and actual results and taking steps to remedy unacceptable variations.
?
A major advantage of budgeting is that it:
eliminates many of the uncertainties associated with the business environment.
requires managers to give planning top priority among their duties.
eliminates the need for management to engage in control activities.
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Which of the following represents the correct order in which the budget documents for a manufacturing company would be prepared?
Sales budget, cash budget, direct materials budget, direct labour budget
Production budget, sales budget, direct materials budget, direct labour budget
Sales budget, cash budget, production budget, direct materials budget
Selling and administrative expense budget, cash budget, budgeted income statement, budgeted balance sheet
?
Compton, Inc. makes and sells a single product, Zippy. Three yards of cotton are needed to make one Zippy. Budgeted production of Zippys for the next ...
$40,970.
$48,200.
$33,840.
$42,300.
?
Compton, Inc. makes and sells a single product, Zippy. Three yards of cotton are needed to make one Zippy. Budgeted production of Zippys for the next ...
7,560 yards
8,400 yards
8,700 yards
9,300 yards
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Compton, Inc. makes and sells a single product, Zippy. Three yards of cotton are needed to make one Zippy. Budgeted production of Zippys for the next ...
37,800 yards
44,940 yards
37,380 yards.
45,360 yards.
?
Barton, Inc. has budgeted sales in units for the next five months as follows: June, 4,600 units; July, 7,200 units; August, 5,400 units; September, 6,...
380 units.
6,800 units.
540 units.
680 units.
?
Barton, Inc. has budgeted sales in units for the next five months as follows: June, 4,600 units; July, 7,200 units; August, 5,400 units; September, 6,...
7,740 units.
7,200 units.
7,020 units.
7,280 units.
?
Barton, Inc. has budgeted sales in units for the next five months as follows: June, 4,600 units; July, 7,200 units; August, 5,400 units; September, 6,...
540 units.
680 units.
720 units.
380 units.
?
Danny Company has developed the following sales projections for calendar year 1992. May $100,000 June $120,000 July $140,000 August $160,...
$360,000.
$427,500.
$414,000.
$440,000.