Match the term with its definition.

[ Select] Spending variance Price variance Quantity variance Flexible budget Fixed budget Management by exception Budgetary control Unfavorable variance Variance analysis Cost variance Fixed budget performance report Overhead cost variance Favorable variance Controllable variance Standard costs Flexible budget performance report Volume variance Match the term with its definition. [ Select] A. The difference between actual cost and standard cost, made up of a price variance and a quantity variance. Select] B. The difference between actual and budgeted sales or cost caused by the difference between the actual price per unit and the budgeted price per unit. [ Select] C. The difference between actual and budgeted cost caused by the difference between the actual quantity and the budgeted quantity. Select ] D. Preset costs for delivering a product, component, or service under normal conditions. [Select] E. A planning budget based on a single predicted amount of sales or production volume; unsuitable for evaluations if the actual volume differs from the predicted volume. Select] F. A budget prepared based on predicted amounts of revenues and expenses corresponding to the actual level of output. Select] G. A process of examining the differences between actual and budgeted sales or costs and describing them in terms of the amounts that resulted from price and quantity differences. Select] H. Difference in sales or costs, when the actual value is compared to the budgeted value, that contributes to a lower income. Select] 1. A report that compares results with fixed budgeted amounts and identifies the differences as favorable or unfavorable variances. [Select ] J. Use of budgets by management to monitor and control the operations of a company. Select] K. A report that compares actual revenues and costs with their variable budgeted amounts based on actual sales volume (or other level of activity) and identifies the differences as variances. Select] L. Difference in sales or costs, when the actual value is compared to the budgeted value, that contributes to a higher income