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Assume that a merchandising company provided the following beginning and ending budgeted balance sheets for a forthcoming month: Assuming the company paid a $4,000 dividend during the period, how much net income must be shown on the company's budgeted income stater Multiple Choice $5,000 $3,000 $7,000 54,000 A spending variance is calculated by comparing the: Multiple Choice flexible budget to the actual results: planning budget to the flexible budget. pianning budget to the actual results. static budget to the actual results. Assume that a company's planned level of activity is 1,000 hours and its actual level of activity is 1,100 hours. Based on this information, the company's activity variance for revenue will be: Multiple Croice zero. favorable unfavorable. either favorable or unfovorable depending on the cost formula A revenue variance is calculated by comparing the: Multiple Choice planning budget to the actual results planning budget to the flexible budget. flexible budget to the actual results. static budget to the actual results