the sales An entity would typically prepare the production budget prior to preparing budget. Question 1-45 are each work one point for a grand total of 45 pdl I. True False ng of many separate budgets that are 2. The master budget is a network consisti interdependent to each other. True False 3. The budgeting process reduces the need for tracking actual cost activity and variances. True False nparing a static planning budget to actual costs is a good way to assess whether True False variable costs are under control. 5. Fixed costs should be included in a flexible budget even though they do not change when the level of activity changes. True False 6. A spending variance is the difference between the cost in the static planning budget and the actual amount of the cost for the period. True False 7. A static planning budget is suitable for planning but is inappropriate for evaluating how well costs are controlled. True False 8. Ideal standards should be used in standard costing not practical standards. True False 9. The standard price per unit for direct materials should reflect the final, delivered cost of the materials, net of any discounts taken. True False