26. When preparing budgets in a manufacturing company, what is the logical order to follow? a. Income Statement Budget, Cash Receipts Budget, Sales Budget b. Cash Payments budget, Production Budget, Sales Budget c. Sales Budget, Production Budget, Direct Materials Budget d. Balance Sheet Budget, Income Statement Budget, Cash Borrowing Budget 27. Davidson Dog Toys has the following information: The selling price for her product, The Laci Lizard Toy is $10 /unit Davidson's Sales Budget is 1000 lizards in January, 900 lizards in February, and 1200 lizards in March. Gross Profit is 40% of Sales. Davidson desires 10% of next month's COGS to remain in inventory at the end of each month. What is Davidson's inventory purchases budget for January and February respectively? a. 109 units b. $10900 and $9000 c. $5940 and $5580 d. $6540 and $6120