LO 8-1

Understand why organizations budget and the processes they use to create budgets.

LO 8-2

Prepare a sales budget, including a schedule of expected cash collections.

LO 8-3

Prepare a production budget.

LO 8-4

Prepare a direct materials budget, including a schedule of expected cash disbursements for purchases of materials.

LO 8-5

Prepare a direct labor budget.

LO 8-6

Prepare a manufacturing overhead budget.

LO 8-7

Prepare a selling and administrative expense budget.

LO 8-8

Prepare a cash budget.

LO 8-9

Prepare a budgeted income statement.

LO 8-10

Prepare a budgeted balance sheet.