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1. Describe a common but misleading interpretation of the fixed-overhead volume variance. Why is this interpretation misleading? 2. What types of organizations use flexible budgets?

1. Describe a common but misleading interpretation of the fixed-overhead volume variance. Why is this interpretation misleading?

2. What types of organizations use flexible budgets? Why? Explain the advantage of using a flexible budget.

3. What is the conceptual problem of applying fixed manufacturing overhead as a product cost?

PLEASE ANSWER IN A WORD DOCUMENT.

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