Indicate Whether Each of the Following Statements Is True or False

Short Answer

Indicate whether each of the following statements is true or false.
The total flexible budget materials variance can be broken down into a price variance and a rate variance.______
If the materials price variance was $3,000 unfavorable and the materials usage variance was $2,000 favorable,the flexible budget materials variance was $1,000 unfavorable.______
If the actual quantity of material used was 10,000 pounds,the actual price per pound was $2.40,and the standard price per pound was $2.25,the materials price variance was $1,500 unfavorable.______
The production department normally is considered to be responsible for materials price variances.______
Analyzing both favorable and unfavorable variances can improve efficiency and benefit the entire company.______