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Relationship between Fixed and Variable Costs

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Explain the relationship between fixed and variable costs used in a flexible budget.

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The relationship between fixed and variable costs are examined.

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Explain the relationship between fixed and variable costs used in a flexible budget.

Definition:--A flexible budget is a budget that is a function of one or more levels of activity. Thus, the budget depends on one or more measures of activity volume rather than being fixed in amount.

Flexible budget is the budget which denotes the sales, fixed costs and variable costs for the different levels of production. ...

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