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41) A budget that is created by starting with the work breakdown structure, determining costs for each work package, and then adding these costs together is:

A) zero-based budgeting.

B) top-down budgeting.

C) bottom-up budgeting.

D) activity-based budgeting.

42) When properly performed, bottom-up budgeting has the disadvantage of:

A) a lack of detail needed in project plans.

B) a lack of coordination among project managers and functional department heads.

C) being a hindrance to top managers when prioritizing projects that are competing for the same scarce resources.

D) a reduction of top management's control of the budget process to one of oversight.

43) A budgeting method that assigns costs first to activities and then to projects based on each project's use of resources is:

A) activity-based budgeting.

B) zero-based budgeting.

C) top-down budgeting.

D) bottom-up budgeting.

44) Activity-based costing and bottom-up budgeting share the step of:

A) identifying cost drivers associated with each activity.

B) identifying activities that consumer resources and assigning costs to them.

C) assigning costs to projects by multiplying the cost driver rate times the volume of units.

D) tending to overestimate project costs due to the lack of involvement by top management.

45) The new dock would require 24 piers to support it and it was known that each time a pier is sunk into the harbor it would take 300 man hours of labor at $25 per hour. An activity-based costing of the entire pier system results in a total cost of how much?

A) $600

B) $7,500

C) $300,000

D) $180,000

46) The new pipe and cable fence would require 70 posts be planted in the rock-hard clay along the property line. It was known that each time a post is planted it would take 3 man hours of labor at $12 per hour in the blazing sun. An activity-based costing of the entire pier system results in a total cost of how much?

A) $2,520

B) $7,500

C) $3,000

D) $840

47) A budget containing disaggregated figures across the schedule when work is planned is a:

A) time-phased budget.

B) chronic budget.

C) temporal budget.

D) calendar budget.

48) Which of the following is NOT contained in a typical time-phased budget?

A) total expenses for each activity

B) total expenses for each time unit

C) cumulative expenses for each time unit

D) cumulative time for each expense

49) What is the cumulative cost in February in this time-phased budget?

ActivityJanuaryFebruaryMarchApril

Survey5,000

Design3,0003,000

Dirt4,000

Foundation10,000

Framing35,000

Plumb6,000

Wire5,500

A) $25,000

B) $17,000

C) $14,000

D) $0

50) What is the total amount budgeted for design costs in this time-phased budget?

ActivityJanuaryFebruaryMarchApril

Survey5,000

Design3,0003,000

Dirt4,000

Foundation10,000

Framing35,000

Plumb6,000

Wire5,500

A) $3,000

B) $6,000

C) $10,000

D) $17,000

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