In the development of a cash budget, which of the following elements must be determined first?
a. Ending balance of Accounts Receivable
b. Direct materials purchases
c. Estimated sales in units
d. Cash for payroll
C
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Indicate whether the statement is true or false
Before you buy a house, you should conduct a(n) ________ to determine if the price is comparable to similar houses in the area
Fill in the blank(s) with the appropriate word(s).
Teri borrows $10,000 from USA Bank to remodel a room in her home. This transaction is subject to
A. no federal law. B. the Consumer Leasing Act. C. the Consumer Product Safety Act. D. the Truth-in-Lending Act.
Miguez Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect materials 2.3liters$7.00per liter$16.10 Direct labor 0.7hours$22.00per hour$15.40 Variable overhead 0.7hours$2.00per hour$1.40 The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed
when the materials are purchased.The labor efficiency variance for September is: A. $1,687 F B. $1,687 U C. $1,540 F D. $1,540 U