D Question 3 1 pts Variance Analysis involves three calculations and then determining the differences between them. True O False Question 4 1 pts Total cost variances can be broken down into price and quantity variances to direct management's attention to those responsible for quantities used and prices paid. True False Question 7 1 pts Management by exception requires management to discuss and review areas that are consistently at budget. O True False Question 8 1 pts Which of the following is correct with regard to the actual labor rate used to compute labor variances? Labor Rate Variance / Labor Efficiency Variance Actual labor rate used: Yes / No Actual labor rate used: Yes / Yes Actual labor rate used: No No Actuallabor rate used: No Yes Actual labor rate used: Yes / Depends on circumstances