Question 12 (6 points) Jane's Camera Shop has prepared the following flexible budget for September and is in the process of interpreting the variances. F denotes a favorable variance and U denotes an unfavorable variance. Flexible Budget Price Variance Efficiency Variance Material A $40,000 Material B 60,000 $1,000F 500U $3,000U 1,500F Direct manufacturing labor 80,000 500U 2,500F The most likely explanation of the above variances for Material A is that a) a lower price than expected was paid for Material A b) higher-quality raw materials were used than were planned c) the company used a higher-priced supplier d) Material A used during September was $2,000 less than expected