Q.13 The formula for the efficiency variance is which of the following?

1. ((Actual activity Actual output) (Budgeted activity Budgeted output)) Budgeted cost per activity Actual output
2. (Actual output - Budgeted output) Budgeted cost output
3. ((Actual cost Actual input) - (Budgeted cost Budgeted input)) Actual quantity of input used
4. ((Actual inputs Actual activity) (Budgeted inputs Budgeted activity)) Budgeted cost input Actual activities produced