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Which is the proper sequence for the steps in the selection process?
Flexible Budget
A budget that adjusts or varies with changes in the volume of activity, providing a more useful tool for performance evaluation.
Variable Costs
Costs that change in proportion to the level of activity or production volume, such as raw materials and direct labor.
Direct Materials
Raw materials that are directly traceable to the manufacturing of a product and are a significant part of its composition.
Actual Cost
The actual amount spent on goods, services, and labor to produce an item or to run a company.
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