27. When examining a master budget, where does a company find the planned expenditures for facilities and equipment?

A) operating expense budget

B) capital budget

C) operating budget

D) purchases budget

28. In a master budget, the schedule of cash disbursements for operating expenses is used to prepare the ________.

A) capital budget

B) purchases and cost of goods sold budget

C) sales budget

D) cash budget

31. When preparing a budgeted balance sheet, the balance for the inventory account is found on the ________.

A) sales budget

B) cash budget

C) operating expense budget

D) purchases and cost of goods sold budget

32. An example of a favorable variance is ________.

A) actual revenues are less than expected revenues

C) actual material prices are greater than expected material prices

D) expected labor costs are less than actual labor costs