A purchase budget is used instead of a production budget by:

a. Merchandising company

b. Service enterprises

c. not-for-profit organizations

d. Manufacturing companies.

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Hubert KochLv2

5 May 2020

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Gross profit does not appear

1) on a merchandising company income statement.

2) on a service company income statement.

3) to be relevant in analyzing the operation of a merchandising company.

4) on the income statement if the periodic inventory system is used because it cannot be calculated.

Which of the following represents the correct order in which the indicated budget documents for a manufacturing company would be prepared?

	a.	Sales budget, cash budget, direct materials budget, direct labor budget
	b.	Production budget, sales budget, direct materials budget, direct labor budget
	c.	Sales budget, cash budget, production budget, direct materials budget
	d.	Selling and administrative expense budget, cash budget, budgeted income statement, budgeted balance sheet

Which of the following statements is NOT correct concerning the manufacturing overhead budget?

the manufacturing overhead budget of provides a schedule of all costs of production other than direct materials and labor costs
the manufacturing overhead budget shows only the variable portion of manufacturing overhead
the manufacturing overhead budget shows only budget shows the expected cash disbursements for manufacturing overhead
the manufacturing overhead budget is prepared after the sales budget

Accounting 580,000