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Identify the situation below that will result in a favorable variance. Select one: Actual revenue is higher than budgeted costs. Actual costs are lower than

Identify the situation below that will result in a favorable variance.

Select one:

Actual revenue is higher than budgeted costs.

Actual costs are lower than budgeted costs.

Actual revenue is lower than budgeted revenue.

Actual expenses are higher than budgeted expenses.

Actual income is lower than expected income.

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