A flexible budget shows fixed costs as constant amounts of

Question

Question: 1. A flexible budget

(a) shows fixed costs as constant amounts of cost per unit of activity,

(b) shows variable costs as constant amounts of cost per unit of activity, or

(c) is prepared based on one expected amount of budgeted sales or production.

2. A standard cost

(a) changes in direct proportion to changes in the level of activity,

(b) is an amount incurred at the actual level of production for the period, or

(c) is an amount incurred under normal conditions to provide a product or service.