Flexible Budget Reflection [WLOs: 1, 2, 3] [CLOs: 1, 3, 5, 6]

Prior to beginning work on this discussion forum, read Chapters 7 and 8 in your textbook.

Write: Make sure your response addressing the following question is more than 200 words and include an in-text citation from the reading material where appropriate.

Some individuals assume that a flexible budget means the organization just changes the budget whenever something happens that was not budgeted. Nothing could be further from the truth. In your own words explain the concept of a flexible budget, why it is used, and what value it serves managers within the organization. Illustrate the use of a flexible budget with an example.