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1A. What is the purpose of flexible budgets? 1B. What consists of total direct material variances (there are two variances)? Explain how those two variances

1A. What is the purpose of flexible budgets?

1B. What consists of total direct material variances (there are two variances)? Explain how those two variances are calculated.

1C. What consists of total labor material variances (there are two variances)? Explain how those two variances are calculated.

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