Exercice 1: Molly Malone is starting her own company in which she will produce and sell Molly's Macaroons. Molly is trying to learn about the budget process as she puts her business plan together. Help Molly by explaining the optimal order for preparing the following budgets and schedules and why this is the optimal order. 1) budgeted balance sheet 2) budgeted income statement 3) capital asset budget 4) cash budget 5) cash collections schedule 6) cash payments schedule 7) direct materials budget 8) direct labor budget 9) master budget 10) manufacturing overhead 11) production budget 12) sales budget 13) selling and administrative budget