QUESTION 2 35 points Save Answer Signify "TRUE" or "FALSE" as applicable for each of the following tems as they pertain to standard cost variances. The material price variance is calculated at the A True False time of production. The material efficiency variance is calculated at the time of production All direct labor variances are calculated at the time of production. The material price variance is calculated using standard material quantity. The material efficiency variance is calculated using standard material price. The labor price variance is calculated using standard labor hours The labor efficiency variance is calculated using actual labor rate