Static budget: $4.7 Flexible budget: $3.6 Actual budget: $2.2
We are asked to calculate the management variance given this information. The problem I'm running up against is that everything in my textbook says that to calculate management variance, you need to know some cost figures, specifically, "management variance = flexible costs - actual costs." I'm obviously missing something, because I don't understand how I can answer this question without more information.
I've sent an e-mail to my instructor for clarification, but haven't gotten a response yet.