Deerborne Company Is Preparing Their Budget for the 2^nd Quarter

question 49

Multiple Choice

Deerborne Company is preparing their budget for the 2^nd quarter and provides the following data:
$\begin{array}{|l|r|r|r|}\hline&\text { Apr } & \text { May } & \text { Jun } \\\hline\text { Budgeted purchases }&\$10,000&\$12,000&\$9,000\\\hline\\\hline\\\hline \text { Budgeted Cash Payments for Inventory } & \\\text { Purchases }&\text { Apr } & \text { May } & \text { Jun } \\\hline 60 \% \text { of previous month purchases } & 5,000 & 6,000 & 7,200 \\\hline 40 \% \text { of current month purchases } & 4,000 & 4,800 & 3,600 \\\hline \text { Total cash payments } & \$ 9,000 & \$ 10,800 & \$ 10,800 \\\hline\end{array}$

Assume that accounts payable pertains only to suppliers of inventory. Based on the above data, what should the budgeted balance sheet show as the balance of Accounts payable at June 30?

• A) $12,000
• B) $3,600
• C) $7,200
• D) $5,400

Distinguish between the various central tendency measures (mean, median, mode) and variability measures (standard deviation, variance, range).

Identify and decide when to use parameters versus statistics.

Understand the impact of sample size on statistical measures.

Recognize calculations errors specifically with variance and standard deviation.

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Definitions:

Cross-cutting Themes

Themes or ideas that apply across different areas of study, indicating commonalities or shared concerns.

Subdiscipline

A subdiscipline is a specialized field or area within a broader discipline that focuses on a narrower range of topics or methods.

Cultural Environment

The ensemble of societal and cultural conditions that influence the life of an individual or community.

Construal

The way in which individuals perceive, comprehend, and interpret the world around them.