21. All of the following statements are true with respect to budgeting except When budget goals are set too tight, the budget becomes less effective as a tool for planning and controlling operations. Budgetary slack can be avoided if lower and mid-level managers are requested to support all of their spending requirements with specific operational plans. Budgets are prepared in the Accounting Department and monitored by various department managers. The budgeting process is employed to effectively communicate planned expectations regarding profits and expenses to the entire organization. a. b. c. d. 22. All of the following statements are true with respect to budgeting except a. In the master budget preparation schedule, the first budget to be prepared b. In the master budget preparation schedule, after the sales budget is c. In the master budget preparation schedule, the production budget is the d. In the master budget preparation schedule, the sales budget is the starting is usually the sales budget. prepared, the production budget is normally prepared next. starting point for preparation of the direct labor cost budget. point for the preparation of the direct labor cost budget