Question: Assume that the simple profit variance is -$200,000, while the flexible profit variance is +$200,000. Which of the following statements about this situation is most

Assume that the simple profit variance is -$200,000, while the flexible profit variance is +$200,000. Which of the following statements about this situation is most correct.

When the volume forecast error is accounted for, the business lost money.

When the volume forecast error is accounted for, the business broke even.

The business actually made a profit of $200,000.

The business actually made a profit of $400,000.

When the volume forecast error is accounted for, the business made money.

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