Multiple Select Question

Select all that apply

Identify the true statements about the cost of goods sold budget.

For a merchandising firm, the cost of goods sold budget is dependent on the purchases budget.

For a manufacturing firm, the cost of goods sold budget is dependent on the raw materials budget, the direct labor budget, and the manufacturing overhead budget.

The calculation of the cost of goods sold budget will require information from the cash budget and the operating expense budget.

The calculation of the cost of goods sold budget will require information from the income statement budget and the balance sheet budget.