True or False: A budget variance is the difference between expected results and actual results at different levels of operations? Solution Budget Variance: Budget Variance is calculated the difference between actual and expected results. When the actual Revenue is greater than budgeted revenue than the variance is favourabel and vice - Versa when the budgeted rvenue is more than the variance is unfavorable. So Variance is the difference between the actual amount and budgeted amount. So, Answer = True..