Which of the following statements is true? Multiple Choice The fixed component of a budget for a cost has no effect on its activity variance. Flexible budgets can only be used when there is more than one cost driver. If actual activity exceeds budgeted activity, the spending variance for an expense will always be unfavorable. A revenue variance is the difference between the amount of the revenue in the master budget and the amount of the revenue in the flexible budget. Fixed costs should not be included in a flexible budget because they do not change when the level of activity changes