Question

[The following information applies to the questions below.]
Identify the corresponding budget(s) from which dollar amounts are transferred directly in constructing each of the following:
1. Budgeted income statement.
2. Budgeted balance sheet.
3. Cash flow budget.
4. Cost of goods sold budget.
5. Production budget.
a. Direct materials budget
b. Cost of goods sold budget
c. Production budget
d. Payables budget
e. Sales budget
f. Budgeted income statement

Answer 1

Answer:

The corresponding budgets in column B from which dollar amounts are transferred directly in constructing the budgets listed in Column A are matched in the explanation below

Explanation:

1.) Budgeted Income Statement

E.) Sales Budget

2.) Budgeted Balance Sheet

D.) Payables Budget

3.) Cash Flow Budget

A.) Direct Materials Budget

4.) Cost of Goods Sold Budget

B.) Cost of Goods Sold Budget

5.) Production Budget

C.) Production Budget