Principles of Accounting II- Please help me to answer these questions and explanation so I can re-read through the chapters and understand better.

Question 1

Budget preparation is best determined in a top-down managerial approach.

	True
	False

Explanation:

Question 2

The master budget of a small manufacturer would normally include all necessary component budgets except the capital expenditures budget.

	True
	False

Explanation:

Question 3

Jase Manufacturing Co.'s static budget for 10,000 units of production includes $40,000 for direct labor and $4,000 for variable electric power. Total fixed costs are $24,000. At 12,000 units of production, a flexible budget would show

	variable costs of $52,800 and $29,000 of fixed costs
	variable costs of $44,000 and $24,000 of fixed costs
	variable costs of $52,800 and $24,000 of fixed costs
	variable and fixed costs totaling $68,000

Explanation:

Question 4

Fashion Jeans, Inc. sells two lines of jeans—Simple Life and Fancy Life. Simple Life sells for $85, and Fancy Life sells for $100. The company sells all of its jeans on credit and estimates that 60% is collected in the month of the sale, 35% is collected in the following month, and the rest is considered to be uncollectible. The estimated sales for Simple are: January, 20,000 pairs of jeans; February, 27,500 pairs of jeans; and March, 25,000 pairs of jeans. The estimated sales for Fancy are: January, 18,000 pairs of jeans; February, 19,000 pairs of jeans; and March, 20,500 pairs of jeans. What are the expected cash receipts for the month of March?

	$3,988,125
	$2,505,000
	$2,125,000
	$4,175,000

Explanation:

Question 5

Match each phrase that follows with the term (a-e) it describes.

	occurs when budgets are too loose
	actions to achieve budgeted goals
	compares actual performance against budgeted goals
	setting goals
	occurs when employee self-interests are different from company goals

1.	planning
2.	directing
3.	controlling
4.	budget slack
5.	goal conflict

Explanation:

Question 6

A decentralized business organization is one in which all major planning and operating decisions are made by top management.

	True
	False

Explanation:

Question 7

If divisional income from operations is $100,000, invested assets are $850,000, and the minimum rate of return on invested assets is 8%, the residual income is $68,000.

	True
	False

Explanation:

Question 8

Match each of the following phrases as describing (a) an advantage, (b) a disadvantage, or (c) neither of decentralization.

	Operational issues are made by managers closest to the operations
	Internal price wars
	Separate office staff
	Responsibilities delegated to unit managers
	Separate sales forces

1.	Advantage of decentralization
2.	Disadvantage of decentralization
3.	Neither an advantage or disadvantage

Explanation:

Question 9

Differential revenue is the amount of increase or decrease in revenue expected from a particular course of action as compared with an alternative.

	True
	False

Explanation:

Question 10

Rylan Corporation received an offer from an exporter for 25,000 units of a product at $16 per unit. The acceptance of the offer will not affect normal production or domestic sales prices. The following data are available:

Domestic unit sales price	$22
Unit manufacturing costs:
Variable	11
Fixed

What is the amount of the income or loss from the acceptance of the offer?

	$125,000 loss
	$25,000 income
	$125,000 income
	$25,000 loss

Explanation: