Among the five budgets that support the cost of goods sold budget, which one does not depend on an earlier budget result?

1. Five supporting budgets are prepared before the cost of goods sold budget can be assembled. 2. The production budget requires the sales budget result, since it starts from units to be sold. 3. The direct materials purchases budget requires the production budget result, because it starts from units to be made. 4. The direct materials cost budget requires the materials purchases budget result. 5. The direct labor cost budget also requires the production budget result, since hours follow units. 6. The factory overhead budget estimates a set of fixed costs independently of all of these. 7. So the factory overhead cost budget is the one that stands alone. _Source: Jonick, Principles of Managerial Accounting (UNG Press, CC BY-SA 4.0), section 7.5 Operating Budget_