Which of the following statements regrading flexible budgets and static budgets is true? (select all that apply) A static budget is prepared primarily for performance evaluation and a flexible budget is primarily prepared for planning purposes A static budget reports the costs that should have been incurred given the actual level of production A flexible budget indicates costs for different levels of activity, but a static budget provides costs for one level of activity A static budget is prepared before the period begins, while a flexible budget is prepared after the period ends