Under estimating production levels will likely lead to: a) Unfavorable flexible budget variances b) Favorable flexible budget variances c) Unfavorable static budgets variances d) Favorable static budget variances e) None of the above Over estimating production levels will likely lead to: a) Unfavorable flexible budget variances b) Favorable flexible budget variances c) Unfavorable static budget variances d) Favorable static budget variances e) None of the above Which of the following are benefits of flexible budget reporting? a) Provide mangers with reasonable cost targets at different levels of production b) Compare cost performance with budgeted costs at actual levels of production d) allow for variance analysis e) All for variance analysis