ECONOMICS

Detailed explanation-1: -Answer and Explanation: The correct answer is option C. Flexible budget variance. Flexible budget variance is the variance in a comprehensive performance report using the flexible budget concept is the most appropriate for measuring the efficiency of operations.

Detailed explanation-2: -About the Budget Variance report The Budget Variance report lets you compare your actual revenue and expenses with budgeted amounts. Before running the report, you should create a budget. You can change budgets within the report if you have more than one.

Detailed explanation-3: -Answer and Explanation: C. Total fixed costs will be the same for a flexible budget and a master budget.

Detailed explanation-4: -The difference between the actual and standard variable overhead cost of the inputs is called the variable overhead spending variance. The actual cost incurred by the company is matched with the budgeted cost or the cost estimated by the company. The difference between both the figures is the variance of spending.