Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is less than the standard quantity B. when the actual quantity used is greater than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price A flexible budget A. gives actual figures for selling price B. gives actual figures for variable and fixed overhead C. is not used in overhead variance calculations D. predicts estimated revenues and costs at varying levels of production The fixed factory overhead variance is caused by the difference between which of the following? A. actual and standard overhead rates B. actual and budgeted units C. actual and standard allocation base D. actual fixed overhead and applied fixed overhead When is the material price variance unfavorable? A. when the actual quantity used is less than the standard quantity B. when the actual price is less than the standard price C. when the actual price paid is greater than the standard price D. when the actual quantity used is greater than the standard quantity What are some possible reasons for a direct labor time variance? A. office supplies spending B. less qualified workers C. sales decline D. utility usage decrease