Which of the following budgets are prepared before the sales budget? Budgeted Income Statement Direct Labor Budget A) Yes Yes B) Yes No C) No Yes D) No No

The answer is D.

Explanation:

Sales budget is always the primary budget to be prepared. Others can come after sales budget. A sales budget is a financial plan which shows the level or volume of sales the firm is expecting to offer for sale in the future.

It is usually the first budget to be prepared because the level of sales will determine the level of expenditure.

Therefore,

For Budgeted Income Statement - NO

For Direct Labor Budget - NO

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