A favorable labor rate variance indicates that Multiple Choice actual hours exceed standard hours. standard hours exceed actual hours. the actual rate exceeds the standard rate. the standard rate exceeds the actual rate. Which of the following statements is not correct? Multiple Choice The sales budget is the starting point in preparing the master budget. The sales budget is constructed by multiplying the expected sales in units by the sales price. O The sales budget generally is accompanied by a computation of expected cash receipts for the forthcoming budget period. O The cash budget must be prepared prior to the sales budget because managers want to know the expected cash collections on sales made to customers in prior periods before projecting sales for the current period