Like _______________, selling and administrative expenses are made up of fixed and variable components.

	A.	Factory overhead
	B.	Direct labor
	C.	Cost of purchase
	D.	Direct materials

The _______________ is an example of financial budgets.

	A.	Direct material budget
	B.	Sales budget
	C.	Budgeted income statement
	D.	Budgeted balance sheet

Capital budget is considered an operating budget.

True

False