A flexible budget performance report compares the differences between: O Actual performance and budgeted performance based on actual sales volume. Actual performance over several periods. Budgeted performance over several periods. Actual performance and budgeted performance based on budgeted sales volume. Actual performance and standard costs at the budgeted sales volume Help Save & Exit The following information describes a company's usage of direct labor in a recent period. The direct labor efficiency variance is: Actual hours used Actual rat per hour Standard rate per hour. Standard hours for units produced. 45,000 $15.00 $14.50 47,000 O $29,000 unfavorable. $29,000 favorable. $22,500 unfavorable. $52,500 favorable. $52,500 unfavorable. Identify the situation below that will result in a favorable variance. O O Actual revenue is higher than budgeted revenue. Actual revenue is lower than budgeted revenue. Actual income is lower than expected income. Actual costs are higher than budgeted costs. Actual expenses are higher than budgeted expenses.