13 Which of the following is a true description of variance?

(i) Managers should interpret an unfavorable variance as "bad signals"

(ii) A company can determine whether a variance should be investigated.

(iii) The purchasing manager secured a discount for buying in bulk with fewer purchase orders which results in unfavorable material price variance.

(iv) Managers' performance should be evaluated on multiple variances.

Select one:

a. (ii), iii), (iv)

b. (ii), (iv)

c. (i), (ii), (iii)

d. (i), (ii), (iii), (iv)