1- If a manufacturing firm is able to purchase direct materials at a discount, but they end up being of poor quality and requiring replacements and rework, what are the likely direct materialsvariances?

a- Favorable price variance and favorable quantity variance b- Unfavorable price variance and favorable quantity variance c- Favorable price variance and unfavorable quantity variance d- Unfavorable price variance and unfavorable quantity variance

2- When are the journal entries for the material price variance (MPV) and material usage variance(MUV) recorded?

a- MUV recorded when materials are purchased, MPV recorded when materials are requisitioned to production. b- MUV and MPV recorded when materials are requisitioned to production. c- MPV recorded when materials are purchased, MUV recorded when materials are requisitioned to production. d- MPV and MUV recorded when materials are purchased.