Question: There are various budgets within the master budget cycle. One of these budgets is the production budget. Which one of the following best describes the

There are various budgets within the master budget cycle. One of these budgets is the production budget. Which one of the following best describes the production budget?

It includes required direct labor hours.

It includes required material purchases.

It is calculated from the desired ending inventory and the sales forecast.

It summarizes all discretionary costs.

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