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Question(s) / Instruction(s):

A spending variance is the difference between:

  1. The costs that should have been and the costs that were actually incurred.
  2. The costs that were actually incurred and the costs that should have been incurred, given the actual level of activity.
  3. His revenue what should have been and the revenues that were planned.
  4. The costs that were planned and the costs that were incurred and both were at different levels of activity.

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