Please identify whether the description relates to the master budget (M), flexible budget (F) or actual results (A) -

Is used as a planning tool to predict future firm performance -

Is used as a planning tool to identify potential ranges of firm performance -

Uses standard costs and standard sales volume -

Uses standard costs and actual sales volume -

Uses actual costs and actual sales volumn -

Is compared to the flexible budget to find spending variances -

Is compared to the flexible budget to find volume variances -

Is used to break total variance into spending and volumne variance -

When compared to the master budget, this budget will show no variance for fixed costs -

Can only be completed at the end of the operating period