Indicate whether the following statements are true or false.

(i) Material price variance is an uncontrollable variance.

(ii) The purchase manager is held accountable for unfavourable material usage variance.

(iii) Material mix variance measures whether the proportion of total actual quantity of materials used is in conformity with the standard proportion specified.

(iv) Material mix variance is controllable variance.

(v) Labour efficiency variance is favourable when actual hours used are higher than standard hoursallowed.

(vi) Labour rate variance is the product of difference in wage rates (standard and actual) and total standard hours.

(vii) Normal loss of materials is considered while setting standard related to material quantity to be used in producing a product.

(viii) A product requires use of materials X, Y and Z in making a product (to be used in a standard proportion). Assume material quantity various is favourable, it implies material mix sub-variance for each material X, Y and Z will also be favourable.

(ix) Unfavourable fixed overhead spending variance implies that the firm is not working upto its full capacity.

(x) Variable overhead efficiency variance is the product of difference in hours (actual and standard)

and standard variable overhead rate per hour.