A variance is a. the gap between an actual result and a benchmark amount b. the required number of inputs for one standard output c. the difference between an actual result and a budgeted amount d. the difference between a budgeted amount and a standard amount A static budget: ?. should be compared to actual costs to assess how well costs were controlled b. should be compared to a flexible budget to assess how well cost were controlled c. is valid for only one level of activity d represents the best way to set spending targets for managers