32 Which of the following statements is not true regarding the fixed production cost variance? Multiple Choice % 01:12:36 The fixed production cost variance is the difference between actual and budgeted costs. With respect to this variance, fixed costs are affected by activity levels within a relevant range. O The flexible budget's fixed costs equal the master budget's fixed costs. Fixed costs are treated as period costs for purposes of this variance. Prev 32 of 38 Next >