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While having a discussion, Technician A says that single-part urethane foams made for home use cannot be used for replacing automotive foam fillers.Technician B says OEM replacement parts never come with the foam already in them.Who is correct?
Static Budget
A fixed budget that remains unchanged over a period, regardless of variations in actual sales volume, production levels, or other operating factors.
Variable Budget
Variable Budget is a budget that adjusts based on changes in the volume of activity, allowing expenses to vary in direct proportion to changes in operational levels.
Favorable Variances
Differences between actual and budgeted or standard costs that result in better-than-expected financial performance.
Unfavorable Variances
Differences where actual costs are higher than standard or expected costs in budgeting.
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