Question: QUESTION 15 In the budget process, what do we call the estimated number of units to be manufactured (based on sales projections and inventory policies)?

QUESTION 15

  1. In the budget process, what do we call the estimated number of units to be manufactured (based on sales projections and inventory policies)?

    the manufacturing budget

    the materials budget

    the production budget

    the sales budget

QUESTION 16

  1. Which of the following can be a problem with participative budgeting?

    Budget-based incentives lead to incorrect information about projected costs and sales (budgetary slack) being communicated to higher level management.

    All the other answers.

    Production budgets are established based on unrealistically low sales forecasts, leading to production being short of materials and labor.

    Conflicts of interest when lower level managers are evaluated by comparing actual results to the budget.

QUESTION 17

  1. Which component of the master budget is NOT needed to create the budgeted income statement?

    The selling and administrative budget

    The cash budget

    The direct materials budget

    The sales budget

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