Name the major budget schedules that create data needed for the cost of goods manufactured budget. What data are provided by each? See Figures 7.5 and 7.6.

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1. 11. III. IV. FIGURE 7.5 The Master Budget Structure The Structure of a Master Budget for a Manufacturer Annual Goals and Planning Assumptions A. Operating and financial goals B. Planning assumptions 1. Product cost and price data (Chapter 8, Schedule 1) 2. Operating and financial activity assumptions (Schedule 2) 3. Beginning balance sheet Operating Budget A. Sales forecast (Schedule 3) B. Production plan (Schedule 4) C. Manufacturing cost budgets 1. Materials requirements (Schedule 5) 2. Direct labor (Schedule 6) 3. Manufacturing overhead budgets (a) Flexible budget (Schedule 7) (b) Manufacturing overhead expense (Schedule 8) D. Supporting schedules 1. 2. 3. Accounts receivable-credit and collections (Schedule 9) Inventories-levels and valuation (Schedule 10) Accounts payable-purchases and payments (Schedule 11) E. Cost of goods manufactured and sold (Schedule 12) F. Operating expenses budgets 1. Selling expenses (Schedule 13) 2. Administrative expenses (Schedule 14) G. Cash-flow forecast (Schedule 16) Project Budgets (Schedule 15) A. Capital expenditures B. Research and development and other special projects Forecast Financial Statements A. Forecast statement of income and expense B. Forecast balance sheet