Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password

Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

Chapter 8 ACCT

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
        Help!  

Question
Answer
show Planning  
🗑
show Participative Budget  
🗑
show Master Budget  
🗑
show Sales Budget  
🗑
show Control  
🗑
show True  
🗑
Budgets Blank______. focus on what has happened in the past primarily help managers with day-to-day emergencies communicate management's plan throughout the organization   show
🗑
Recognizing individuals at all levels of the organization as team members whose views and judgments are valued by top management is an advantage of responsibility accounting a sales budget continuous budgeting self-imposed budgeting   show
🗑
The annual master budget file includes the ______ from last year because it is needed for the schedule of expected cash collections. balance sheet income statement cash budget sales budget   show
🗑
show Master Budget  
🗑
show Create the budget with a budgeting assumption tab  
🗑
The first step in the budgeting process is preparing the Blank______ budget. production direct materials cash sales   show
🗑
Master budget schedules ______. are based on estimates and assumptions answer several key questions for a company may be prepared in any order   show
🗑
show Production  
🗑
show Merchandise Purchase Budget  
🗑
show Balance Sheet  
🗑
Using budgeting assumptions when preparing the master budget, ______. involves adjusting data inputs within each master budget schedule makes it easier to answer "what-if" questions increases the complexity of the process   show
🗑
show Direct Materials Budget  
🗑
show Production Budget  
🗑
Working hours required to satisfy the production budget are shown on the ______ budget. cash direct labor direct materials merchandise purchases   show
🗑
The amount of goods to be acquired from suppliers during the period is shown on the ______ budget. merchandise purchases sales manufacturing overhead direct labor   show
🗑
The annual master budget file includes the Blank______ from last year because it is needed for the schedule of expected cash collections. cash budget sales budget income statement balance sheet   show
🗑
In a manufacturing company, the ______ budget details the raw materials that must be purchased to fulfill the production budget and provide for adequate inventories sales merchandise purchases production direct materials   show
🗑
show Manufacturing Overhead Budget  
🗑
The cost of unsold units is computed on the ______ budget. production manufacturing overhead ending finished goods inventory sales   show
🗑
The number of working hours required to satisfy the production budget is shown on the _______ _______ budget   show
🗑
In large organizations, many smaller individual budgets submitted by department heads and other responsible people comprise the ______ budget. cash selling and administrative ending finished goods inventory manufacturing overhead   show
🗑
show Merchandise Purchases Budget  
🗑
show the cash excess is greater than the minimum required cash balance  
🗑
Because it is needed for the schedule of expected cash collections, the annual master budget file includes the _____ _____ from last year   show
🗑
show Budgeted Income Statement  
🗑
All costs of production other than direct materials and direct labor are shown on the ______ budget. ending finished goods inventory cash manufacturing overhead merchandise purchases   show
🗑
To prepare a budgeted balance sheet as of December 31, 2021, data is needed from the ______ December 31, 2020. balance sheet as of income statement for the year ended statement of cash flows for the year ended   show
🗑
show Unsold  
🗑
show Selling and Administrative  
🗑
show Income Statement  
🗑
show Beginning  
🗑


   

Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
 
To hide a column, click on the column name.
 
To hide the entire table, click on the "Hide All" button.
 
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
 
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.

 
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how
Created by: linnette02