Question 1 The first step in the master budgeting process is to prepare: Not yet answered Marked out of 1.00 Flag question Select one: O a. A cash budget O b. The production budget O c. A balance sheet O d. The direct materials budget O e. The sales budget What does the amount that is transferred out from Work-In-Process account show? Question 2 Not yet answered Marked out of 1.00 Flag question Select one: O a. The amount of costs to be transferred to cost of goods sold O b. The total costs of incomplete jobs at the end of the period O c. The amount of over-applied overhead costs offset against WIP O d. The amount of costs to be transferred out to finished goods O e. The total costs of jobs completed during the period