When preparing the cash budget for the first quarter of the year (January, February, and March), the beginning cash balance of the quarter is equal to Select one: O a. The ending cash balance of January Ob. The total of cash balances at the beginning of January, February, and March O c. The ending cash balance of March O d. The beginning cash balance of January e. The beginning cash balance of March Traditional Volume-based costing allocates indirect product costs based on the volume of output, using such allocation bases as direct labor hours, machine hours, or the amount of direct material used in the production process. Activity-based costing (ABC) has consistently shown that volume- based costing the cost of low-volume products and of high-volume products. Select one: O a. Understates, Understates b. none of the given answer. Oc. Overstates, Understates d. Understates, Overstates Oe. Overstates, Overstates the cost