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DeVry BUSN 278 Week 8 Final Exam Questions

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Question;1. (TCO 7) The first step in creating the master budget is the sales budget.;Describe this budget and the information it includes. Why is the accuracy of;the sales budget important? (Points: 20);1.;(TCO 7) The first step in creating the master budget is the sales budget.;Describe this budget and the information it includes. Why is the accuracy of;the sales budget important? (Points: 20);2.;(TCO 9) Understanding how costs behave can help managers plan operations and;choose between various courses of action.;Part;(a) Identify and describe the three types of cost behavior, including examples;of each.;Part;(b) As a manager, which cost behavior would you prefer and why? (Points: 20);4.;(TCO 7) Roswell Company has budgeted sales revenue as follows for the next 4;months as follows;February;$150,000;March;$120,000;April;$105,000;May;$165,000;Past;experience indicates that 80% of sales each month are on credit and that;collection of credit sales occurs as follows: 60% in the month of sale, 35% in;the month following the sale, and 3% in the second month following the sale.;The other 2% is uncollectible.;Prepare;a schedule which shows expected cash receipts from sales for the month of May.;(Points: 30);5.;(TCO 8) Eastern Company?s budgeted and actual sales for 2009 were;Product;Budgeted;Sales;Actual;Sales;A;35,300;units at $2.00 per unit;32,700;units at $2.60 per unit;B;27,900;units at $5.00 per unit;29,200;units at $4.70 per unit;Part;(a) Calculate the sales volume variance.;Part;(b) Calculate the sales price variance.;Part;(c) Calculate the total sales variance. (Points: 30);6.;(TCO 9) The Mays Clinic has the following monthly telephone records and costs;Calls;Costs;2,000;$2,400;1,500;2,000;2,200;2,600;2,500;2,900;2,300;2,700;1,700;2,200;Identify;the fixed and variable cost elements using the high-low method. (Points: 30)

 

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