1.Explain what static and flexible budgets are and how they relate to each other:

2.What is a standard cost system and why is it used?

3.Why does activity-based costing usually produce more accurate product cost information?

Answer rating: 100% (QA)

1 Static Budgets and Flexible Budgets Static Budget A static budget is a financial plan developed based on a single level of activity or volume It is prepared in advance and remains unchanged regardle... View the full answer