Which of the following is true of a performance report?

a.To create a meaningful performance report, a static budget should be used.

b.To create a meaningful performance report, actual costs and expected costs should be compared at different levels of activity.

c.In preparing a performance report, static budgets are usually a good choice for benchmarks.

d.It is prepared only if the top management has only superficial participation in the budgeting process.

e.It compares actual costs with budgeted costs from the master budget.