Which of the following budgets is prepared before the preparation of the production budget?

a.	Sales budget
b.	Cash budget
c.	Direct labor budget
d.	Capital expenditure budget

2. Which of the following budgets must managers prepare before they can prepare a direct materials purchases budget?

a.	Labor budget
b.	Overhead budget
c.	Production budget
d.	Cost of goods manufactured budget

3. Purchases of buildings and equipment are formally planned in the

a.	depreciation budget.
b.	budgeted balance sheet.
c.	selling and administrative expense budget.
d.	capital expenditures budget.