Problem
Considering what you have learned in this module, describe the basic flow of the various operating budgets within the master budget for a manufacturing firm. This should include a discussion of which budget is prepared first, and how that budget is used to prepare the next budget(s). You do not need to go into detail about the calculations for every budget. Select three different items out of any of the budgets and discuss how an error in one could impact other budgets that come later.