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Compare the flexible budget to the actual expenses. What does this inform? Be sure to discuss the following variances: i. Static budget variance, including sales

Compare the flexible budget to the actual expenses. What does this inform? Be sure to discuss the following variances:

i. Static budget variance, including sales volume and flexible budget variances

ii. Price and efficiency variances for direct materials and direct labor

iii. Spending and efficiency variances for variable manufacturing overhead

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