Which of the following statements is false? Select one: O a. The selling and administrative budget is typically prepared before the cash budget. O b. The master budget consists of a number of separate and independent budgets. O c. A continuous or perpetual budget is a 12-month budget that rolls forward one month (or quarter) as the current month (or quarter) is completed. O d. The direct labor budget begins with the required production in units from the production budget. O e. The budgeted variable selling and administrative expense is calculated by multiplying the budgeted unit sales by the variable selling and administrative expense per unit.