What are some of the benefits of a well-prepared budget?
1 . The budget help managers align activities and resource allocations with organizational goals.
2 . The budget can help promote employee participation, cooperation, and departmental coordination.
3 . The budget enhances conduct of the managerial functions of planning, controlling, problem solving, and performance evaluation.
4 . The budget can sharpen management's responsiveness to changes in both external and internal factors.
5 . The budget is a model of future performance of a business in time to consider alternative measures.
Chapter 9—Break-Even Point and Cost-Volume-Profit Analysis
TRUE/FALSE
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What was the operating income (loss) for the year?
Hendrix & Franks Co. had the following beginning and ending inventory balances for the current year ended December 31: January 1 December 31 Materials $11,000 $ 8,800 Work in Process 19,800 18,700 Finished Goods 23,100 18,150 In addition, direct labor costs of $33,000 were incurred, manufacturing overhead equaled $46,200, materials purchased were $29,700, and selling and administrative costs were $24,200. Hendrix & Franks Co. sold 27,500 units of product during the year at a sales price of $5.25 per unit. A. $18,500 B. $125,000 C. $3,025 D. $2,000
A major factor contributing to the growth in the use of direct marketing IMC efforts is
A. the reduction in IMC noise, allowing for a decreased lagged effect. B. reduced government regulation of deceptive advertising practices. C. a shift from objective-and-task to rule-of-thumb budgeting. D. increased use of credit and debit cards, and online shopping by consumers. E. expanded use of personal selling.
United FiberTech probably has:
Most employees at United FiberTech support the idea that the company's success depends on their willingness to continually change and improve customer service. A. an adaptive culture. B. many countercultures. C. more subcultures than employees. D. an unethical culture. E. no corporate culture.
In April, Holderness Inc, a merchandising company, had sales of $221,000, selling expenses of $14,000, and administrative expenses of $25,000. The cost of merchandise purchased during the month was $155,000. The beginning balance in the merchandise inventory account was $34,000 and the ending balance was $48,000.Required:Prepare a traditional format income statement for April.
What will be an ideal response?