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  3. a flexible-budget variance for any fixed cost: is

A flexible-budget variance for any fixed cost: Is undefined, except when actual output equals budgeted...

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Accounting

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A flexible-budget variance for any fixed cost: Is undefined, except when actual output equals budgeted output. Can be broken down into price and efficiency components. Is the difference between budgeted fixed cost and actual fixed cost. Is typically zero, because the volume assumed in the flexible budget and the master budget for fixed costs is identical. Is defined as the difference between flexible-budget fixed cost and the level of fixed costs reflected in the master (static) budget

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