The basic difference between a static budget and a flexible budget is that:

Select one:

a. A flexible budget considers only variable costs, but a static budget considers all costs.

b. Flexible budgets allow management latitude in meeting goals, whereas a static budget is based on a fixed standard.

c. A static budget is for an entire production facility, but a flexible budget is applicable only to a single department.

d. A static budget is based on one specific level of production and a flexible budget can be prepared for any production level within a relevant range.