A budget OA must be prepared monthly B. can be prepared for any period of time OC. must be prepared by the president of the company D. must be for a one year period of time QUESTION 25 The master budget contains all of the following except OA sales budget OB. a balanced score card OC cash budget OD. direct labor budget QUESTION 26 ABC Company sells 100,000 ties for $12 per unit. Net income is $200,000. Fixed costs are $300,000. What should be reported as variable expenses in the CVP income statement? OA. $700,000 OB. $600,000 OC.$800,000 OD $500,000