Question 11 2 pts In this type of budget, the master budget is based on a single prediction for sales volume, and the budgeted amount for each cost essentially assumes that a specific amount of sales will occur. Flexible budget Oo oo Variable budget. Standard budget Fixed budget Question 12 2 pts Which of the following is NOT TRUE about standard costs? Standard costs can be used by management to assess the reasonableness of actual costs incurred, Standard costs are preset costs for delivering a product or service under normal conditions, When standard costs are used, factory overhead is assigned to products with a predetermined standard overhead rate. Standard costs are uniform among companies within an industry