AS-2 LO 2 Generally, what is considered a favourable variance? What is considered an unfavourable variance? AS-5 LO 2 How is the flexible budget different from the static budget? Chapter 7 Flexible Budgeting and Variance Analysis AS-6 LO 2 How is the sales volume variance calculated? AS-7 LO 2 How is the flexible budget variance calculated? AS-8 LO 2 How is the static budget variance calculated