1. Mark the statement which is FALSE by placing the letter of the Answer on the line. a. Budget development should include realistic, attainable goals and should be developed by managers and employees from the "bottoms up" and reviewed by company executives from a target "tops down" perspective. b. Benefits of budgeting include planning (for future activities) and controlling (comparing actual results to budgeted results). c. Most companies prepare annual budgets but don't separate it into monthly or quarterly budgets. d. An organization can track and report whether it is achieving results compared to budget by calculating the variance "actuals less budget". 2. Company Zeta sells sneakers for $100 each. 500 units were sold in June and it is projected that unit sales will increase 10% in the following month. Determine the number of sneakers sold and the dollar amount of the sneaker sales for the month of July. # of sneakers sold S amount of sales