To create meaningful performance reports, actual costs and expected costs should be compared at the static budget level of activity weekly at the actual level of activity daily The of the following budgets would normally be prepared before the other listed budgets as a part of the preparation of the master budget: production budget cash budget sales budget direct materials purchases budget ABC Company has been a leading manufacturer of widgets for many years. ABC Company projected sales for the first quarter of 2020 as follows: January 1000 units, February = 1300 units and March = 1600 units. Management wants ending inventory for each month to be equal to 20% of the next month's projected unit sales. The estimated January 1, 2020, inventory is 200 units. What is the budgeted production (in units) for February? O 1600 1420 O 1360 1760 Orange Company is a seller of high quality products sold only to large wholesale firms. Orange Company sales products to customers on account only (no cash sales). Projected sales in units for the first quarter of 2020 are as follows: January 2000 units, February 2600 units and March = 2800 units. The sales price of each unit is $10. Management expects the following collection pattern: 80% of sales revenue will be collected in the month of sale and 208 in the next month. Cash collections on account for February are: $22,400 $26,400 $24,800 $ 26,000