A distinctive feature of the beginning inventory before the current period proce

Question

A distinctive feature of the beginning inventory before the current period process-costing method is that work done on is kept separate from work done in the current a. Weighted-average b. FIFO c. Both a and b d. Alternate T he steps to follow when preparing the operating budg budget revenue budget, production budget, and direct materials usage cost a. of goods sold budget, production budget, and cash budget revenue budget, overhead budget, and production budget c. revenue budget, cash budget, and material purchase budge d. e ending balance in the cash budget consists of the beginning balance plusminus a. total sales, total purchases b. disbursements, receipts c. collections, payments d. cash sales, credit sales

Explanation / Answer

1. It is the FIFO method in which work done for current period and prior period is kept separetely according to the percentage of work done prior and during the current period

So correct answer is B

2. In he operating budget first it comes to the revenue budget then production is prepared and the direct material required that is direct material budget is prepared

So correct answer is A

3. Cash budget is summ total of beginning balance Add the cash receipts that is collections and subtracting the payments made during the period

So correct answer is C

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