BUS 475 Final Exam Answers

1. Which of the following is NOT an element of manufacturing overhead?

a. 0 Factory employee's salary

b. 0 Depreciation on the factory

c. 0 Plant manager's salary

d. 0 Factory repairperson's wages

1. What accounts are NOT classified in the current assets section of the balance sheet?

a. 0 Cash

b. 0 Accounts payable

c. 0 Security deposits

d. 0 Inventory

1. The starting point of a master budget is the preparation of the

a. 0 cash budget.

b. 0 sales budget.

c. 0 production budget.

d. 0 budgeted balance sheet.

1. What amounts are not included in Gross Margin?

a. 0 Operating expenses

b. 0 Sales

c. 0 Cost of goods sold

d. 0 Commissions paid

1. At what rate is the income statement converted for US comparison?

a. 0 Month end

b. 0 First day of the month...