Which of the following represents the order in which the master or static budget is prepared? Multiple Choice Cost of the product, Sales, Production, Statement of income and expenses, Costs of the period. Sales, Statement of income and expenses, Production, Costs of the product, Costs of the period. Sales, Production, Product costs, Period costs, Statement of income and expenses. Cost of the product, Production, Sales, Costs of the period, State of income and expenses. EITHER