HW 6: Cost Variance Analysis Cost Variance Analysis . Progress You are on question 7 of 13 . Mike's Bikes is showing a high amount of waste, and you have narrowed it down to a piece of equipment that is in frequent need of repair and outdated. How might you approach replacing the equipment in a discussion with management? Analyze the amount of raw material and labor that could be saved by replacing the equipment Purchase the new equipment and install it, so they can see how efficient it is Continue to fix the old equipment and adjust the raw material budget to reflect the waste. Previous Next 14 tv MacBook Air 400 2 g: DW DD a TS @ % A 2 3 $ 4 5 6 7 8 9 0 W E R T Y 0 S D G H