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Chapter 8 is about flexible budgets, direct-cost variances and management control. How does management use variances to control costs? How is the production volume variance

Chapter 8 is about flexible budgets, direct-cost variances and management control. How does management use variances to control costs? How is the production volume variance different from an efficiency variance? Why is there never a sales volume variance associated with fixed manufacturing overhead? Define the fixed overhead spending variance and the variable overhead spending variance. Finally, diagram and show how the 4-variance analysis is different from the 3-variance and 2-variance analyses?

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