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2. Calculate and provide a concise interpretation of each variance. a) Price and efficiency variances for materials and labor. b) Spending and product volume variances

2. Calculate and provide a concise interpretation of each variance.

a) Price and efficiency variances for materials and labor.

b) Spending and product volume variances for fixed overhead costs.

3. Suggest 2-3 non-financial measures for evaluating the store's performance and briefly discuss how they will complement the financial performance information.

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