9 2 points Cost Volume Profit analysis is useful for a range of applications. Select the correct applications in the list below. Select all that apply. Variance analysis Scenario Planning To measure profits and losses Before starting a new business Changing production methods Exception reporting 000000 101 point Which of the following statements are true about the limitations/issues of variance analysis (including planning and operational variances)? Select all which apply. OOOO Operational Managers are never pleased when planning and operational variances are calculated Adverse variances are always caused by poor/bad planning Clear demarcation of responsibility is always achievable If standards are not updated to reflect current conditions, variances calculated using original standards will not be reliable or indicative of performance External factors can influence variance analysis. 110 AM 0 ENG 24/01/