The total direct labour variance can be broken down into two components: the efficiency variance and the price variance.
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Q4: The direct materials efficiency variance tells managers
Q5: If a variance is considered material, it
Q6: The cost categories that are measured and
Q7: Unreasonable standards may be the cause of
Q8: If a variance is unfavourable, it should
Q10: Calculating variances is a necessary, but not
Q11: The standard cost of direct materials is
Q12: Identifying the reasons for variances is usually
Q13: The fixed overhead spending variance is normally
Q14: The variable overhead budget variance is the
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