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16) A flexible budget can be used to estimate what revenues and costs should have been, given the actual level of activity for the period A) True B) False 17) The revenue and spending variances are the differences between the flexible budget and the actual results for the period. A) True B) False 18) The variance that is usually most useful in assessing the performance of the purchasing department manager is: A) the labor efficiency variance. B) the materials quantity variance. C) the labor rate variance. D) the materials price variance