I need help with answers please

Accounting 2302 Chapter 8-In-Class Activity Name November 67, 2018 1. What is the key difference between static and flexible budgets? 2 What is the relationship between the master budget and the operating budget? 3. Why must the sales budget precede the production budget? 4. BYI, Inc. manufactures a product which sells for $20 per unit. Each unit requires four linear feet of material, which has a cost of $1.50 per foot. Each unit requires 0.5 hrs of labor, and the average labor rate is $10.00 per har. Additionally, BYl maintairs inventory targets as follows a) endng finished gods inventory should be 40% of the next month's sales, b) ending raw materials invertoy should be 30% of next month's prodction requirements. BYI has the following sales forecast (in units): Month Units March 275 MonthUnits June 400 April 250 May 300 August 425 BYI incurs variable manufacturing overhead at the rate of $0.25 per unit produced. Annual fixed overhead is estimated to be $7.200 ($600 per month) for the expected production of 4,000 units for the year. Selling, general and administrative (SG&A) expenses are estimated at $650 per month plus $0.60 per unit sold a. Prepare a sales budget for each month of the second quarter, as well as a total for the quarter. b. Prepare a production budget for each month of the second quarter, as well as a total for the quarter