Financial Statements

In a 1-2 page paper, please complete the following:Review the financial statements from the manufacturing company you chose in week one. (Apple Inc.Discuss the importance of each type of budget (master, sales,production, direct materials, manufacturing overhead, sales andadministrative).Give 1-2 examples describing how each budget can assist the company in improving profitability for future periods.Be sure that the paper has no spelling or grammatical errors. APA formatAdditional helpMaster BudgetThe master budget is comprised of several interrelated budgets thatindicate a plan of actions and is presented for a specific period oftime (monthly, yearly, etc.).http://smallbusiness.chron.com/prepare-master-budget-business-10293.html#gsc.tab=0Sales BudgetThe sales budget is the first budget that is created. The salesbudget is created by an earlier sales forecast that gives an estimateof expected revenue for a period.http://accounting-financial-tax.com/2008/08/sales-budget/Production BudgetThe production budget gives an indication as to how many units are to be produced to meet sales goals. http://accounting-financial-tax.com/2008/08/production-direct-material-direct-labor-factory-overhead-budget/Direct Materials BudgetThe direct materials budget gives information relating to the quantity and cost of the items that will be used for production.http://accounting-financial-tax.com/2008/08/production-direct-material-direct-labor-factory-overhead-budget/Manufacturing Overhead BudgetThe manufacturing overhead budget gives information relating to theexpected manufacturing costs for a period. The budget shows thedifferent fixed and variable cost amounts.http://accounting-financial-tax.com/2008/08/production-direct-material-direct-labor-factory-overhead-budget/Selling and Administrative BudgetThe selling and administrative budget shows a projection ofanticipated operating expenses relating to sales and office personnel.This budget also shows the different fixed and variable cost amounts.http://accounting4management.com/selling_and_admn_expenses_budget.htm