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Russo Manufacturing Company uses the following budgets: balance sheet, capital expenditures, cash, direct labour, direct materials, income statement, manufacturing overhead, production, sales, and selling and

Russo Manufacturing Company uses the following budgets: balance sheet, capital expenditures, cash, direct labour, direct materials, income statement, manufacturing overhead, production, sales, and selling and administrative expenses. Indicate whether each budget is an operating or a financial budget.

Budgeted balance sheet

Capital expenditures budget

Cash budget

Direct labour budget

Direct materials budget

Budgeted income statement

Manufacturing overhead budget

Production budget

Sales budget

Selling and administrative expenses budget

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