[Solved] Below is budgeted production and sales information for Flushing Company for the month of December: The unit selling price for product XXX is $5 and for product ZZZ is $15. Budgeted production for product ZZZ during the month is: A) 403,000 units B) 380,000 units C) 397,000 units D) 417,000 units Closing Entries: Journal entries made at the end of an accounting period to transfer temporary accounts' balances to permanent ones, thereby resetting the temporary accounts for the next period. Permanent Accounts: The balance sheet accounts whose balances are carried over into future accounting periods, not closed at the end of the fiscal year. Posting: The process of recording financial transactions to the appropriate accounts in the general ledger. Adjusting Entries: Journal entries made in accounting records at the end of an accounting period to update the accounts for any accruals and deferrals that were not recorded during the accounting period.