QUESTION 41 Please identify whether the description relates to the master budget (M), flexible budget (F) or actual results (A) Is used as a planning tool to predict future firm performance Is used as a planning tool to identify potential ranges of firm performance Uses standard costs and standard sales volume Uses standard costs and actual sales volume Uses actual costs and actual sales volume Is compared to the flexible budget to find spending variances Is compared to the flexible budget to find volume variances Is used to break total variance into spending and volume variance When compared to the master budget, this budget will show no variance for fixed costs Can only be completed at the end of the operating period A. actual results B. flexible budget C. master budget