missing information is provided here: Budgeted Actual Variance Explanation Sales $560,000 $630,000 $70,000 Sales volumes were 12% higher than expected, so variance is reasonable. Cost of goods sold 360,000 330,000 (30,000) Decrease is similar to increase in sales, so variance is reasonable. Salaries and benefits expense 120,000 115,000 (5,000) Possible small decrease due to one position being vacant for two months. Selling expenses 36,000 32,000 (4,000) Decreased while sales increased. Investigate why costs decreased. Rent and utilities 48,000 48,000 Nothing to investigate. Which one of the following explanations for the variances is NOT true? Question 13 options: a) Cost of goods sold b) Sales c) Salaries and benefits expense d) Selling expenses