Formulas that will be provided on the exam are listed on the last page.Multiple ChoiceIdentify the letter of the choice that best completes the statement or answers the question.1

Formulas that will be provided on the exam are listed on the last page.Multiple ChoiceIdentify the letter of the choice that best completes the statement or answers the question.1. Which of the following alternatives reflects the proper order of preparing components of the master budget?1.Production budget2.Sales budget3.Direct materials budgeta.2, 3, 1b. 1, 3, 2c.2, 1, 3d. 3, 1, 22. Bright Lamp Company manufactures lamps. The estimated number of lamp sales for the last three months of 2015is as follows:MonthSalesOctober10,000November14,000December13,000Finished goods inventory at the end of September was 3,000 units. Ending finished goods inventory is budgeted toequal 25 percent of the next month’s sales. Bright Lamp expects to sell the lamps for $25 each. January 2016 salesare projected at 16,000 lamps. How many lamps should be produced in November?a.11,000 lampsb. 10,500 lampsc.14,000 lampsd. 13,750 lamps3. Which of the following is a potential disadvantage of participative budgeting?a.Managers may build slack into the budgetb. Managers are more likely to be motivated by budgets they helped to createc.Managers should have more detailed knowledge for creating realistic budgetsd. None of the above

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"