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17. When using the self-imposed budget approach, it is generally best for top management to accept all budget estimates without question in order to minimize adverse behavioral responses from employees. FALSE

18. The direct labor budget begins with sales in units from the sales budget. FALSE

19. Which of the following budgets are prepared before the sales budget?

a. b. c. D.

20. All of Gaylord Company's sales are on account. Thirty-five percent of the credit sales are collected in the month of sale, 45% in the month following sale, and the rest are collected in the second month following sale. Bad debts are negligible and should be ignored. The following are budgeted sales data for the company:

What is the amount of cash that should be collected in March?

  • a.

    $39,000

  • b.

    $37,000

  • c.

    $27,500

  • D.

    $51,000

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