The production volume variance is the difference between fixed costs on the flexible budget and the fixed costs on the master budget.
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Q1: A favorable variance is not necessarily good,
Q3: The sales price variance is the actual
Q4: The flexible and master budget amounts are
Q5: An unfavorable direct labor efficiency variance could
Q6: If the budgeted activity level is greater
Q7: Both the actual material used and the
Q8: The sales activity variance is the result
Q9: The standard cost for a unit of
Q10: The terms "master budget" and "flexible budget"
Q11: Production cost variances are input variances, while
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