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REQUIRED: The following elements of the master budget MUST be prepared in this exercise: 1. Sales budget (2 marks) 2. Production budget. (3 marks) 3.

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REQUIRED: The following elements of the master budget MUST be prepared in this exercise: 1. Sales budget (2 marks) 2. Production budget. (3 marks) 3. Direct materials budget (3 marks) 4. Direct labor budget. (3 marks) 5. Manufacturing overhead budget. (3 marks) 6. Ending finished goods inventory budget. (3 marks) 7. Selling and administrative expense budget. (3 marks) 8 . Cash budget. (5 marks) 9. Budgeted income statement. (5 marks) Scenario 2: (5 marks) Analyze Mark's budget as a financial planning tool for making decisions in the follow

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