8. What's "participative budgeting" or "bottom up budgeting? Do you think that this is desirable? What advantages does it have? Any disadvantages? What's the alternative to this? 9. Which is the first budget prepared and why? 10. Let's say that, based on your marketing projections, industry and economic forecasts, you estimate that you will sell 10,000 chairs in the next month. Your sales price is $100 per chair. What's your sales budget? 11. If you expected no beginning or ending inventories, how many chairs would you plan to produce? 12. Now let's say that, for various reasons, you feel that it's best to hold some extra inventory (known as safety stock). Why might you decide to do this? What are the advantages? What are the disadvantages? 13. For this purpose, at the end of the month you plan to keep safety stock equal to 10% of next month's sales. Next month you expect to sell 12,000 chairs. Assuming that you started with no beginning inventory, NOW how many would you produce? 14. What if, based on your policy above, you planned on having 1,000 chairs in your inventory at the beginning of the month (10,000 chairs 10%). NOW how many chairs would you budget to produce