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Solve the equation.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity, useful for managerial control and performance evaluation as it reflects real-time operations rather than fixed forecasts.
Master Budget
An all-encompassing financial planning document that consolidates all of an organization's budgets for sales, production, overhead, and cash flow.
Materials Budget
An estimate of the cost of raw materials required for production over a specific period.
Budgeted Production
An estimate of the number of units that must be produced during a specific period to meet expected sales and inventory levels.
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