Question 36 (1 point) The first three schedules to complete when preparing the master operating budget are the revenue budget, costs of goods sold budget, and production budget revenue budget, cash inflows, and production expenditures. revenue budget, production budget, and direct materials purchases and usage budget. revenue budget, overhead budget, and production budget. costs of goods sold budget, production budget, and cash budget. Question 37 (1 point) Question 37 (1 point) A production budget expressed in units is equal to last year's sales plus beginning finished goods inventory plus targeted ending finished goods inventory. budgeted sales less beginning finished goods inventory less targeted ending finished goods inventory. budgeted sales plus beginning finished goods inventory plus targeted ending finished goods inventory budgeted sales plus beginning finished goods inventory less targeted entding finished goods inventory. budgeted sales less beginning finished goods inventory plus targeted ending finished goods inventory. Unit 9 - Flexible Budgeting & Responsibility Centres Question 40 (1 point) A budget that is adjusted in accordance with changes in actual output is called a trial balance budget. a static budget a balanced budget. a flexible budget G a cost budget