The current ratio is a liquidity ratio profitability ratio long-term solvency ratio market strength ratio The breakeven point is the point at which fixed costs equal variable costs contribution margin equals fixed costs sales equal variables costs fixed costs equal sales A master budget is a compilation of forecasts for the coming year or operating cycle made by various departments or functions within an organization. what is the most basic forecast made in a master budget? sales forecast production forecast labor forecast materials forecast which budgets must managers prepare before they can prepare a direct materials purchases budget? labor budget overhead budget production budget cost of goods manufactured budget