The following information was taken from Shown Company\'s cash budget for the mo

Question

The following information was taken from Shown Company's cash budget for the monty of July: If the company has a policy of maintaining a minimum end of the mont cash balance of $200,000, the amount the company would have to borrow is a. $80,000. b. $40,000. c. $120,000. d. $48,000 7. A self-imposed budget or budget is a budget that is prepared with the full cooperation of managers at all levels. a. perpetual b. master c. participative d. responsibility 8. Which department should usually be held responsible for an unfavorable materials price variance? a. Production. b. Materials Handling. c. Engineering. d. Purchasing

Explanation / Answer

6.

Answer a) $80,000

$240,000+$152,000 - $272,000 - $200,000 = $80,000

7.

Answer c) Participative

8.

Answer d) Purchasing

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