Question: Describe a Flexible budget and explain how it differs from a static or planning budget. Why do companies create Flex budgets? What is the purpose

  1. Describe a Flexible budget and explain how it differs from a static or planning budget.
  2. Why do companies create Flex budgets? What is the purpose and how do you think these budgets are helpful to businesses?
  3. Why are separate price and quantity variances computed? What is the benefit? Please explain.

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