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Managerial Accounting
Introduction to Managerial Accounting
Jeannie M. Folk
Ray H. Garrison
Eric Noreen
Profit Planning

Learning Objectives

After studying Chapter 7, you should be able to:

1

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

2

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

3

Prepare a production budget.

4

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

5

Prepare a direct labor budget.

6

Prepare a manufacturing overhead budget.

7

Prepare a selling and administrative expense budget.

8

Prepare a cash budget.

9

Prepare a budgeted income statement.

10

Prepare a budgeted balance sheet.




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