Question: 1. What's the difference between a static budget and a flexible budget? 2. Why do we calculate both a price variance and an efficiency variance?

1. What's the difference between a static budget and a flexible

1. What's the difference between a static budget and a flexible budget? 2. Why do we calculate both a price variance and an efficiency variance? 3. What would poor-quality materials do to direct labor variances? 4. How do we determine whether a variance is favorable or unfavorable

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