Answer the following statements true (T) or false (F)
1. To develop the cost of goods sold budget, it is necessary to start by calculating the projected cost to
produce each unit.
2. The inventory costing method affects the process of preparing the cost of goods sold budget.
3. Cost behavior is considered in developing the selling and administrative expense budget as costs are
designated as variable or fixed.
4. The cost accountant works directly with the corporate president to develop the selling and
administrative expense budget.
5. The cost accountant works with the office and sales managers to develop the selling and
administrative expense budget.
1. TRUE
2. TRUE
3. TRUE
4. FALSE
The cost accountant works with the office and sales managers to develop the selling and
administrative expense budget.
5. TRUE
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