6. Which budget is always the first one to prepare? Why? 7. Which budgets are operating budgets and what financial statement can be estimated from operating budgets? 8. Which budgets are financial budgets and what financial statement can be estimated from financial budgets? 9. Is the production budget calculated in dollars, or is it calculated in units of finished goods? 10. What is the basic inventory formula used in both the production budget and the direct materials budget? 11. What are the goals of creating a cash budget? 12. What schedules are used in constructing the cash budget? 13. What is a capital expenditures budget? 14. According to the notes for this chapter, there is something we can calculate from preparing the factory overhead budget. What is it?