Which of the following statements concerning performance reports is incorrect? Addition of the flexible bydget variance and the volume variance will equal the master budgel variance. The activity level used to populate the flexible budget is based on the actual "units." A favorable variable cost flexible budget variance indicates that actual variable costs per unit were lower than the variable costs per unit as predicted on the master budget. All favorable flexible budget variances should be investigated. All of the above are correct options. Which of the following statements concerning performance reports is incorrect? Addition of the flexible bydget variance and the volume variance will equal the master budgel variance. The activity level used to populate the flexible budget is based on the actual "units." A favorable variable cost flexible budget variance indicates that actual variable costs per unit were lower than the variable costs per unit as predicted on the master budget. All favorable flexible budget variances should be investigated. All of the above are correct options