Indicate Whether Each of the Following Statements Is True or False.The

Short Answer

Indicate whether each of the following statements is true or false.The difference between the actual fixed costs and budgeted fixed costs is the spending variance.For fixed costs, there is no flexible budget variance.While total fixed cost does not change in response to changes in the volume of activity, fixed cost per unit does change.To monitor the effects of volume on fixed cost per unit, companies calculate a fixed cost volume variance.The fixed cost volume variance is favorable if actual volume is less than planned because cost per unit is higher than expected.