Question 3 Which of the following statements is true about production budget? Select the correct answer from the options below Proctucrion buciget=Sales - Opering inventory + Closing invertory Production butiget ast Sales + Opening inventory + Closing inventory Production budget ast Sales - Overing inventory - Closing inventorsurd Procaution pooget=Sales + Openngg (0,vertiovy+Closingin entory + Expenses) 4 pts

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Question 3 Which of the following statements is true about production budget? Select the correct answer from the options below Proctucrion buciget=Sales - Opering inventory + Closing invertory Production butiget ast Sales + Opening inventory + Closing inventory Production budget ast Sales - Overing inventory - Closing inventorsurd Procaution pooget=Sales + Openngg (0,vertiovy+Closingin entory + Expenses) 4 pts

Answer 1

Production budget

Answer 2

## Step 1:Understand the problem - In this problem, we need to find the correct formula to represent a production budget. ## Step 2:The correct formula for the Production budget involves Sales, Opening Inventory, and Closing Inventory, but it doesn't involve Expenses. A production budget determines the number of units to be produced within a particular period. For this calculation, the formula should involve Subtracting Opening Inventory (the inventory that already exists), then Add Closing Inventory (the inventory that you want to have left at the end of the period) to Sales (the number of units projected to sell).### The formula for the production budget in quantitative terms is given by:###

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