Which of the following statements is true?. Multiple Choice 0 1'1 planning budget is prepared before the period begins and is valid for onlythe actual level of activity. 0 1'1 planning budget is prepared before the period begins and is valid for onlythe planned level of activity. 0 1'1 planning budget is prepared after the period ends and is valid for only the planned level of activity. 0 1'1 planning budget is prepared after the period ends and is valid for only the actual level of activity. Assume that a company has two cost drivers-number of courses and number of students. The planned number of courses and students were 5 and 100, respectively. The actual number of courses and students were 6 and 110, respectively. One of the company's expenses is influenced by both cost drivers and it has a fixed element as well. Its cost formulas are $41 per course, $5 per student, and $1,000 per period. The total cost included in the planning budget for this expense would be: Multiple Choice O $1,796. O $1,896. O $1,705. O $1,605.Assume that a company has two cost drivers-number of courses and number of students. The planned number of courses and students were 5 and 100, respectively. The actual number of courses and students were 6 and 110, respectively. One of the company's expenses is influenced by both cost drivers. Its cost formulas are $45 per course and $4 per student. The total cost included in the flexible budget for this expense would be: Multiple Choice O $810. O $540. O $710. O $610