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Why are budgets useful in the planning process? 0 They enable the budget committee to evaluate the performance of employees. 0 They provide management with information about the company's past performance. 0 They help communicate goals and provide a basis for evaluation. 0 They guarantee the company will be protable if it meets its objectives. Save for Later Attempts: 0 of 1 used Accounting generally has the responsibility for O administration of the budget. O enforcing the budget. O setting company goals. O expressing the budget in financial terms. Save for Later Attempts: 0 of 1 used Submit AnswerIf there were 40000 pounds of direct materials on hand on January 1, 130000 pounds are desired for inventory at January 31, and 560000 pounds are required for January production, how many pounds of direct materials should be purchased in January? 0 430000 pounds 0 650000 pounds 0 470000 pounds 0 690000 pounds Save for Later Attempts: O of 1 used In preparing a direct labor budget, the number of direct labor hours required is calculated using the O production budget. O sales forecast. O sales budget. O direct materials budget. Save for Later Attempts: 0 of 1 used Submit AnswerThe direct materials and direct labor budgets provide information for preparing the 0 cash budget. 0 manufacturing overhead budget. 0 production budget. 0 sales budget. Save for Later Attempts: 0 of 1 used

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