Explain What Each of the Following Variances Indicates,and Discuss What

question 43

Essay

Explain what each of the following variances indicates,and discuss what conditions might have caused each variance.
Direct material price variance: $1,000 U
Direct material quantity variance: $1,500 F
Direct labor rate variance: $800 F
Direct labor efficiency variance: $300 U

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Definitions:

Behavior Modification

A process of changing or shaping behavior through various techniques and strategies, often based on principles of learning and conditioning.

Shaping

A behavioral technique involving the reinforcement of successive approximations of a desired behavior until the final target behavior is achieved.

Reinforces

Stimuli that strengthen or increase the likelihood of a behavior by being presented as a consequence of that behavior.

Calf

A young bovine animal, especially the young of the domestic cow or a young elephant, whale, hippo, or moose.