3) Which of the following should the organization use to initiate a budget? A) Last year's budget B) Last years actual amounts C) Zero-based budgeting D) Any of the above 4) What is the starting point of the master budget process? A) sales budget B) cash budget C) budgeted income statement D) production budget 5) Loyal Pet Company expects to sell 6000 beefy dog treats in January and 10,000 in February for $2 each. What will be the total sales revenue reflected in the sales budget for those months? A) January $12,000; February $20,000 B) January $3000; February $5000 C) January $5000: February $3000 D) January $20,000; February $12,000 6) Hewitt Company expects cash sales for July of $1 1,000, and a 19% monthly increase during August and September. Credit sales of $14,000 in July should be followed by 28% increases during August and September. What are budgeted cash sales and budgeted credit sales for September respectively? A) $14,080 and $16,660 B) $9244 and $10,938 C) $15,577 and $22,938 D) $13,090 and $17,920