Managers can study the difference between the static budget and the flexible budget to identify ways to improve future operations.
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Q15: Ideal standards make allowances for unexpected events.
Q16: The use of standard costs is suited
Q17: Standards costs cannot be used for new
Q18: Variances are differences between budgeted and actual
Q19: It is not possible to calculate a
Q21: If managers could accurately predict actual volume
Q22: The static budget compared to flexible budget
Q23: Efficiency variances provide information about how economically
Q24: A standard cost variance can be broken
Q25: If a variance is considered to be
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