Answer is Option (b) what the cost and revenues should have been for the budgeted number of uoutputs.
Explanaions: Flexible budget is a financial tool where actual cost for a given level of outut is inserted first then for different levels of output the total cost and ervenue is calculated. In flexible budget with respect to change in output, variable costs are increased or decreased proportionately but fixed cost is increased or decreased following certain criteria like wheather plant expansion is there or excess depreciation etc. So, from Flexible budget we can see the different total cost and revenue at different levels of outputs.
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