The flexible-budget variance measures:

a). what the costs and revenues should have been for the budgeted number of outputs

b). the difference between budgeted expenditures and actual expenditures for the budgeted number of outputs

c). the difference between budgeted and actual variable costs

d). [expected expenditures for the actual number of outputs] + [the actual expenditures for the actual number of outputs]

e). [actual cost for the actual level of the revenue or cost driver] + [budget unit number x the actual level of the revenue or cost driver]