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3-37 A static budget: should be compared to actual costs to assess how well costs were controlled. should be compared to a flexible budget to

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A static budget: should be compared to actual costs to assess how well costs were controlled. should be compared to a flexible budget to assess how well costs were controlled. is valid for only one level of activity. represents the best way to set spending targets for managers. A planning budget is prepared before the period begins and is valid for only the planned level of activity

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