11: B.5. Annual Profit Plan and Supporting Schedules

Question 1

The master budget

A. shows forecasted and actual results.
B. can be used to determine manufacturing cost variances.
C. contains the operating budgets.
D. reflects controllable costs only.

Answer 1

C is the correct answer; the master budget contains operating and financial budgets

A. wrong shows only forecasts,d not actual
B. No we use this for budget, not variances
D. no it contain controllable and non controllable cost