All of the following statements are true except: The final schedule of the master budget is the cash budget. The master budget consists of a number of separate but interdependent budgets that formally lay out the company's sales, production, and financial goals. A cash budget is a detailed plan showing how cash resources will be acquired and used The first step in the budgeting process is the preparation of the sales budget, which is a detailed schedule showing the expected sales for the budget period QUESTION 4 Which equation describes the production budget? Budgeted unit sales-Desired units of ending finished goods inventory + Units orbeginning finished goods inventory-Required production in units Required unit sales-Desired units of ending finished goods inventory-units of beginning finished goods inventory = Budgeted unit sales Required unit sales+ Total needs . Units of beginning finished goods inventory-Budgeted production in units Budgeted unit sales + Desired units of ending finished goods inventory-Units of beginning finished goods inventory-Required production in units