When preparing a flexible budget, fixed costs should remain the same as on the master budget. True False Question 6 6 pts A spending variance is made up of: volume variance and quantity variance. price variance and volume variance. price variance and quantity variance. price variance and rate variance. A quantity standard is: the total dollar amount that a company expects to spend to achieve a given level of output. a form that shows what the company should spend to make a single unit of product. the price that should be paid for a specific quantity of input. the amount of input that should be used in each unit of product or service. Question 4 6 pts variances are calculated by comparing the master budget to the flexible budget, and variances are calculated by comparing actual costs to the flexible budget (not the master budget). Volume, volume Volume, spending Spending. volume Spending, spending Question 1 6pts A standard cost system initially records manufacturing costs at the standard rather than the actual amount. True False Question 2 6pts A quantity standard is the amount of input that should go into a single unit of the product or service. True False