TrueMasons' Budgeted Costs for 25,000 Linear Metres of Block Are

question 158

Multiple Choice

TrueMasons' budgeted costs for 25,000 linear metres of block are: $\begin{array}{cc} \text { Fixed manufacturing costs } & \text {\(\$ 12,000\) per month } \\ \text { Variable manufacturing costs } & \text { \(\$ 16.00\) per linear metre } \\\end{array}$
True Masons installed 20,000 linear metres of block during March.How much is budgeted total manufacturing costs in March on TrueMason's flexible budget?

• A)$320,000
• B)$412,000
• C)$400,000
• D)$332,000

---

Definitions:

Liability and Asset Accounts

Accounts on a balance sheet that represent obligations to pay others (liabilities) and resources owned by a company (assets).

Financial Statements

Official accounts detailing the economic operations and condition of an enterprise, person, or any other unit.

Unearned Legal Fees

Money received by an entity for legal services yet to be performed, recognized as a liability until the services are rendered.

Adjusting Entry

A journal entry made at the end of an accounting period to update the ledger accounts for accruals, deferrals, and other adjustments necessary to ensure accurate financial reports.