2 accounting questions

1. At what point should managers investigate variances? Should managers ignore favorable variances and spend their time studying unfavorable variances?  Why or why not?

2. What are the benefits to be derived from flexible budgets? Cite an example where a flexible budget was utilized in your own life, albeit professional or at home.

I will provide resources to whoever gets the assignment. These do not have to be very long. 2 paragraphs is just enough. Do more at your own will.

Will raise price to 10 if this is given to me tonight by 11:45pm New York Time. 3 hours from now.