NEED HELP PLEASE. The questions have multiple choice answers that are provided.

1.

If the cost of indirect materials needed for production is insignificant, it should not be included in the budgeting process.

True False

2.

Nobell Inc. has a cash balance of $20,000 on April 1, 2015. They are now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows.

There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of May.

A. $23,700

B. $46,100

C. $22,000

D. $21,900

3.

. Which of the following formulae is the right formula for calculating contribution margin ratio?

A. Contribution margin ratio = Contribution margin Net sales revenue B.Contribution margin ratio = Contribution margin + Net sales revenue C.Contribution margin ratio = Contribution margin / Net sales revenue D.Contribution margin ratio = Contribution margin - Net sales revenue

4. Which of the following correctly describes the accounting for advertising costs?

A. Advertising costs are period costs and are expensed when the manufactured product is sold.

B. Advertising costs are product costs and are expensed when the manufactured product is sold.

C. Advertising costs are period costs and are expensed as incurred.

D. Advertising costs are product costs and are expensed as incurred.

5. Budgeting requires managers to decide upon the course of action and then to plan for the same.

True OR False

Apr May June Cash collections Cash payments: Purchases of inventory Operating expenses $25,000 $22,000 $20,000 5,800 3,500 7,000 4,600 6,200 5,300