Question: Question 1 (1 point) The purpose of using Cost Variance Analysis is to calculate the difference between what was spent and what was budgeted,

Question 1 (1 point) The purpose of using Cost Variance Analysis is to calculate the difference between what was spent and what was budgeted, figure out why this happened, and take action to get costs in line with the budget True False Question 2 (1 point) Cost variances are broken down into Material Variances, Labor Variances, and Overhead Variances True False

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