57.Refer to the information above. Hugh's budgeted interest expense for March is:
A. $500.
B. $2,444.
C. $5,500.
D. $6,000.
58.Refer to the information above. Of Hugh's budgeted debt service cost of $6,000 in March, the amount applied to the principal of the note totals:
A. $500.
B. $4,000.
C. $4,500.
D. $5,000.
Ross Corporation makes all sales on account. The June 30th
balance sheet balance in its accounts receivable is $400,000, of which $240,000 pertain to sales that were made during June. Budgeted sales for July are $1,250,000. Ross collects 70% of sales in the month of sale; 20% in the following month; and the final 10% in the second month after the sale.
59.Refer to the information above. What are Ross's budgeted collections for July?
A. $1,275,000.
B. $939,000.
C. $1,195,000.
D. $915,000.
60.Refer to the information above. What is the budgeted balance of Ross's accounts receivable as of July 31?
A. $375,000.
B. $455,000.
C. $415,000.
D. $396,000.
61.Refer to the information above. Budgeted collections from customers in October total:
A. $39,000.
B. $27,000.
C. $31,000.
D. $110,000.
62.Refer to the information above. Budgeted collections from customers in November total:
A. $32,000.
B. $53,000.
C. $59,000.
D. $48,000.
63.Refer to the information above. Budgeted collections from customers in December total:
A. $55,000.
B. $60,000.
C. $64,000.
D. $59,000.
64.As the volume of output increases:
A. Variable costs per unit will increase.
B. Variable costs per unit will decrease.
C. Variable costs per unit will not change.
D. Variable costs in total will decrease.
65.As the volume of output decrease:
A. Fixed costs per unit will increase.
B. Fixed costs per unit will decrease.
C. Fixed costs per unit will not change.
D. Fixed costs in total will decrease.
66.Costs that rise and fall proportionately with the volume of output are often referred to as:
A. Variable costs.
B. Flexible costs.
C. Idle capacity costs.
D. Uncontrollable costs.