Which is the last step in developing the master budget? A) Preparing the cash budget B) Preparing the budgeted balance sheet c) Preparing the budgeted income statement D) Preparing the cost of goods manufactured budget 73. Cash provided by operations is generally equal to operating income. A) True B) False 74. Raylight Products planned to use l yard of plastic per unit budgeted at $81 a yard. However, the plastic actually cost $80 per yard. The company actually made 2,600 units, although it had planned to make only 2,200 units. Total yards used for production were 2,640. How much is the total materials variance? A) $32,400 U B) $2,640 F C) S600 U D) $3,240 U 75. The direct materials budget shows: Desired ending direct materials 51,000 pounds Total materials required 61,000 pounds Direct materials purchases 54,900 pounds The total direct materials needed for production is A) 6,100 pounds. B) 3,900 pounds. C) 10,000 pounds. D) 115,900 pounds. 76. The labor price variance is A) (AH X AR)-(AHX SR). B) (AHX SR)-(SH X SR). C) (AH X AR)-(SH SR). D) (AH SR)-(SH XAR)