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48. The difference between the actual amount of the cost of an item and how much the cost should have been given the actual level
48. The difference between the actual amount of the cost of an item and how much the cost should have been given the actual level of activity is referred to as O a spending variance O a quantity variance O a price variance O an activity variance 47. The difference between a revenue or cost item in the flexible budget and the same item in the planning budget is referred to as O a quantity variance O an activity variance O a spending variance O a price variance
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