4. What are some advantages of using standard costs? What are some disadvantages? When might a given company have a substantial favorable materials price variance and a substantial unfavorable materials usage variance? 5. What is the usual cause of a favorable or unfavorable labor rate variance? Between the labor rate variance and the labor efficiency variance, which is more likely to be under the control of management? Explain. 6. 7. How does an accountant typically dispose of variances from standard