write a 1–2-page analysis identifying what might cause these
variances in a standard cost summary for materials, labor, and
factory overhead. In addition, analyze, from a manager's
perspective, how each variance could be corrected and explain
why.
An unfavorable materials price variance.
A favorable materials price variance.
An unfavorable materials quantity variance.
A favorable materials quantity variance.
An unfavorable labor rate variance.
A favorable labor rate variance.
An unfavorable labor efficiency variance.
A favorable labor efficiency variance.