The first step in preparing a flexible budget is to identify the fixed and variable cost components. prepare the budget for each activity level by multiplying each variable cost per unit by the activity level and then adding the fixed costs. identify the relevant activity levels. None of these choices are correct.

Avillage levied property taxes of $910,000 for calendar year 2019 on january 1, 2019 and immediately set up an allowance of $10,000 for uncollectible taxes. the village collected $870,000 in cash during 2019. it expected to collect $22,000 of the unpaid taxes during the first 60 days of 2020 and an additional $8,000 during the rest of 2020. how much should the village recognize as property tax revenues in its 2019 general fund financial statements? a) $870,000 b) $892,000 c) $900,000 d) $910,000