When would a variance be labeled as favorable? Multiple Choice When estimated costs are greater than actual costs When standard costs are equal to actual costs When standard costs are less than actual costs When actual costs are less than standard costs Assuming actual volume is 10,000 units and planned volume is 12,000 units, the sales volume variance in units: Multiple Choice Equals 2.000 units unfavorable. Equals 2.000 units favorable Cannot be determined without additional information. None of these answers are correct Testations aux membres du club de Spark Company's static budget is based on a planned activity level of 45,000 units. At the same time the static budget was prepared, the management accountant prepared two additional budgets, one based on 40,000 units and one based on 50,000. The company actually produced and sold 49,000 units. In evaluating its performance, management should compare the company's actual revenues and costs to which of the following budgets? Multiple Choice A budget based on 49,000 units A budget based on 45,000 units A budget based on 50,000 units A budget based on 40,000 units A budget prepared at a single volume of activity is referred to as a: Multiple Choice 5 O Standard budget. Strategic budget Static budget. Flexible budget