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sergiy2304 [10]
3 years ago
10

A manufacturer develops bud­gets for the direct materials, direct labor, and overhead that will be required in the produc­tion p

rocess from which of the following?
A. The selling and administrative expenses budget.
B. The budget for merchandise purchases.
C. The sales budget.
D. The production budget.
E. The cash budget.
Business
1 answer:
Dominik [7]3 years ago
5 0

Answer:

The correct answer is letter "D": The production budget.

Explanation:

The production budget is the expected production of a manufacturing company. It combines the projection of sales of the firm for the current period and the number of assets needed to achieve the production level necessary. It is important for a company to have a clear idea of what investment will be needed to fulfill those expectations.

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Sergio, the manager of a software firm, has a new project for his team. He is preparing a set of targets and making decisions on
Charra [1.4K]

Answer: (C) Planning

Explanation:

The planning is the term that is used to manage all the functions in an organization and perform various types operations for achieving the desired goals in an organization.

The main objective of the planning is that it helps in achieving the main goal and target and it also organize all the functions in an organization in planned way.

The planning is one of the most important factor in an organization as it helps in manage all the resources and also the productivity an organization.

According to the given question, Sergio is the manager of the software company and he work on the new project and in context of the given management situation Sergio using the planning method.  

 Therefore, Option (C) is correct answer.

7 0
3 years ago
Exercise 19-9 Income statement under absorption costing and variable costing LO P1, P2 IThe following information applies to the
ivolga24 [154]

Answer:

When you are calculating variable costing, COGS only includes variable costs. All fixed costs are included as period costs at the end. Fixed costs are not carried forward either.        

             <u> Income Statement (variable costing) - J Cool Sky</u>

total sales $140 x 36,000 units sold =                                   $5,040,000

variable COGS                                                                        ($3,240,000)

variable direct costs ($60 + $22) x 36,000 = ($2,952,000)

<u>variable overhead ($8 x 36,000)                       ($288,000)                       </u>        

manufacturing margin                                                              $1,800,000

<u>variable administrative and selling costs ($11 x 36,000) =     ($396,000)  </u>  

contribution margin                                                                   $1,404,000

fixed costs                                                                                  ($633,000)

fixed overhead =                                               ($528,000)

<u>administrative and selling =                              ($105,000)                           </u> 

net income                                                                                    $771,000

In order to prepare the income statement using absorption costing, we must first determine COGS = [(total variable manufacturing costs + total fixed manufacturing costs) / total output] x units actually sold

COGS = {[($60 + $22 + $8) x 44,000] + $528,000} / 44,000] x 36,000 = [($3,960,000 + $528,000) / 44,000] x 36,000 = $102 x 36,000 = $3,672,000

          <u> Income Statement (absorption costing) - J Cool Sky</u>

total sales $140 x 36,000 units sold =                                   $5,040,000

<u>COGS                                                                                      ($3,672,000)</u>

gross profit                                                                                $1,368,000

variable administrative and selling costs $11 x 36,000 =       ($396,000)    

<u>fixed administrative and selling costs                                      ($105,000)</u>

net income                                                                                  $867,000

The difference between both accounting methods is that variable costing includes all fixed manufacturing costs during the period and the ending inventory is carried forward only at a lower cost since it only includes variable costs. Absorption costing calculates ending inventory using the total fixed costs, that is why COGS is lower.

3 0
3 years ago
If macaroni and cheese is an inferior good, then an increase in ____
Anvisha [2.4K]

Answer:

The correct answer is option C.

Explanation:

An inferior good is a good that has a negative income elasticity. It means that when consumer's income increases the demand for inferior goods decreases and vice versa.

If macaroni and cheese is an inferior good, then an increase in consumer's income will cause the demand for macaroni and cheese to decrease. This decrease in demand will cause the demand curve to shift to the left.

5 0
3 years ago
2021 2020 Income Statement Information Sales revenue $ 8,400,000 $ 7,900,000 Cost of goods sold 5,535,600 5,400,000 Net income 3
Vinil7 [7]

Answer:

2021 2020 Income Statement Information

Sales revenue $ 8,400,000 $ 7,900,000

Cost of goods sold 5,535,600 5,400,000

Net income 332,500 198,000

Balance Sheet Information

Current assets $ 1,550,000 $ 1,450,000

Long-term assets 2,150,000 1,850,000

Total assets $ 3,700,000 $ 3,300,000

Current liabilities $ 1,150,000 $ 850,000

Long-term liabilities 1,550,000 1,550,000

Common stock 750,000 750,000

Retained earnings 250,000 150,000

Total liabilities and stockholders' equity $ 3,700,000 $ 3,300,000

<h2>1. </h2>

Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.)

The four main profitability ratios are:

  1. gross profit margin = (revenue - COGS) / revenue = ($8,400,000 - $5,535,600) / $8,400,000 = 0.341 or 34.1%
  2. net profit margin = net profit / revenue = $332,500 / $8,400,000 = 0.03958 or 3.96%
  3. return on assets = net income / average total assets = $332,500 / [($3,700,000 + $3,300,000)/2] = $332,500 / $3,500,000 = 0.095 or 9.5%
  4. return on equity = net income / shareholders equity = $332,500 / $1,000,000 = 0.3325 or 33.25%

<h2>2. </h2>

Determine the amount of dividends paid to shareholders in 2021.

retained earnings 2021 - retained earnings 2020 = net income - dividends

$250,000 - $150,000 = $332,500 - dividends

$100,000 + dividends = $332,500

dividends = $332,500 - $100,000 = $232,500

8 0
3 years ago
An employee who is responsible for planning, directing, and monitoring the work of other employees is a ________.
dem82 [27]

Answer:

Manager

Explanation:

an employee who is responsible for planning, directing, and monitoring the work of other employees is a manager

Hope this helped and have a good day

6 0
2 years ago
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