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A master budget is comprised of numerous specific budgets. Consider the production budget, direct materials budget and sales budget. For these budgets to be properly

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A master budget is comprised of numerous specific budgets. Consider the production budget, direct materials budget and sales budget. For these budgets to be properly created, they need to be done in a particular sequence. What order should they be completed? Explain why it makes sense to complete them in that order. Why should you consider the beginning and desired ending inventories when making a production budget? How will you account for these when creating the production budget (add or subtract from projected sales)? Why would the cash collections budget be different than the sales budget

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