Instructions: Print your name on your test paper and sign the honor code. Print your name and test number on your Scantron answer sheet. Use Feel free to mark up your test paper. . If you change an answer, make sure to erase the incorrect answer completely. a #2 pencil to mark each answer on the correct line of your Scantron. 1) The starting point in developing the master budget is preparing: A) The cash budget B) The production budget C) The sales budget D) The budgeted income statement 2) Dogwood, Inc. has budgeted sales for the first quarter of the next year to be 45,000 units. The inventory on hand at the beginning of the quarter is 5,000 units. The desired ending inventory is 3,000 units. Calculate the budgeted production in units for the first quarter. A) 3,000 units B) 43,000 units C) 40,000 units D) 48,000 units 3) The direct materials budget is prepared using data directly from which budget? A) The cash budget B) The master budget C) The capital expenditure budget D) The production budget 4) Budgeted production at Zodiac, Inc. is 13,000 units per month. Each unit requires $80 per labor hour. Calculate the budgeted cost of 30 minutes of direct labor at direct labor for the month. A) $520,000 B) $195,000 C) $1,040,000 D) $34,667