ACCT 2101 Chapter Notes - Chapter 8: Budget, Income Statement

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26 Oct 2016
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They include the cash budget and the capital expenditures budget. Acct 2101: chapter 8 summary: prepare the following components of the operating budget, sales budget. The starting point of the budgeting process is the development of the sales budget. It is based on a variety of inputs and affects all other components of the master budget: production budget. This budget is based on the sales budget and the planned levels of beginning and ending finished goods inventory: raw materials purchases budget. This budget is based on the production budget and the planned levels of beginning and ending raw materials inventory: direct labor budget. This budget is based on the production budget and shows how much labor is required to produce (or serve) each unit: manufacturing overhead budget. This budget is based on the production budget and provides information about expected variable and fixed manufacturing overhead costs: cost of goods sold budget.

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