At the End of the Year,your Company Had the Following

Essay

At the end of the year,your company had the following variances:
$\begin{array}{lr} \text { Direct material price variance } &\$3000\text {F}\\ \text { Direct material usage variance } &\$3500\text {U}\\ \text {Direct labour rate variance } &\$5200\text {U}\\ \text { Direct labour efficiency variance } &\$7000\text {U}\\\end{array}$

Give at least one possible cause for each of the variances and discuss the possible relationships between them.