Which of the following statements is not correct concerning the Manufacturing Overhead Budget?a. The Manufacturing Overhead Budget Provides a schedule of all costs of production other than direct materials and labor costs.b. The Manufacturing Overhead Budget Shows only the variable portion of manufacturing overhead.c. The Manufacturing Overhead Budget Shows the expected cash disbursements for manufacturing overhead.d. The Manufacturing Overhead Budget Is prepared after the sales budget.

b. The Manufacturing Overhead Budget Shows only the variable portion of manufacturing overhead.

Explanation:

The manufacturing overhead budget deals with the schedule of all production cost i.e indirect cost other than the direct material and the labor cost.

It also shows the variable portion and the fixed portion of the manufacturing overhead plus it also shows the expected cash disbursement and it also prepared after the sales budget

Their underlying asset beta is closest to is 1.08

Explanation:

According to the given data we have the following:

Debt is given as $78 billion

Equity is given as $142 billion

equity beta given as 1.68

Therefore, in order to calculate the underlying asset beta we would have to use the formula of the the equity beta for a levered firm as follows:

betaE =beta A [1 + (Debt / Equity)]

1.68 = \beta A [1 + ($78 B/ $142 B)]

1.68 = \beta A [1 + 0.5493]

betaA = 1.68 / 1.5493

betaA = 1.08

Their underlying asset beta is closest to is 1.08