The basic difference between a static budget and a flexible budget is —

(A) A static budget is based on one specific level of production and a flexible budget can be prepared for any production level within a relevant range

(B) A static budget is for an entire production, but a flexible budget is applicable only to a single department

(C) Flexible budget allows management latitude in meeting goals, whereas a static budget is based on a fixed standard

(D) A flexible budget considers only variable costs, but a static budget considers all costs.