Question: In chapter 7 we learn about flexible budgets, direct-cost variances and management control. How is the flexible budget in this chapter different from the master

In chapter 7 we learn about flexible budgets, direct-cost variances and management control. How is the flexible budget in this chapter different from the master budget in chapter 6? How is the flexible budget variance different from the sales volume variance and define each? (2 sentence maximum). How is the price variance different from the efficiency variance? (1 sentence maximum.)

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