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##### 1. Rogers Corporation is preparing its cash budget for July.

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Rogers Corporation is preparing its cash budget for July. The budgeted beginning cash balance is \$25,000. Budgeted cash receipts total \$141,000 and budgeted cash disbursements total \$139,000. The desired ending cash balance is \$30,000.;Reference: 9-19;To attain its desired ending cash balance for July, the company should borrow;Student Response Value Correct Answer Feedback;A. \$30,000;B. \$0;C. \$3,000 100%;D. \$57,000;General Feedback: Excess cash available over disbursements = Beginning cash balance + Budgeted cash receipts - Budgeted cash disbursements = \$25,000 + \$141,000 - \$139,000 = \$27,000;Borrowing = Desired ending cash balance - Excess cash available over disbursements = \$30,000 - \$27,000 = \$3,000;AACSB: Analytic;AICPA BB: Critical Thinking;AICPA FN: Reporting;LO: 8;Level: Easy;Score: 5/5;2.;The manufacturing overhead budget at Polich Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 1,600 direct labor-hours will be required in February. The variable overhead rate is \$3.40 per direct labor-hour. The company's budgeted fixed manufacturing overhead is \$28,320 per month, which includes depreciation of \$3,680. All other fixed manufacturing overhead costs represent current cash flows.;Reference: 9-16;The February cash disbursements for manufacturing overhead on the manufacturing overhead budget should be;Student Response Value Correct Answer Feedback;A. \$24,640;B. \$33,760;C. \$30,080 100%;D. \$5,440;General Feedback;AACSB: Analytic;AICPA BB: Critical Thinking;AICPA FN: Reporting;LO: 6;Level: Easy;Score: 5/5;3.;An organization's budget program should not be used;Student Response Value Correct Answer Feedback;A. to motivate employees.;B. to assign blame to managers that do not meet budgetary goals. 100%;C. to help evaluate managers.;D. to allocate resources to the various parts of an organization.;General Feedback: AACSB: Reflective Thinking;AICPA BB: Critical Thinking, Resource Management;AICPA FN: Reporting;LO: 1;Level: Easy;Score: 5/5

Paper#27348 | Written in 18-Jul-2015

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