Question 41 (4 points) To calculate the direct materials usage variance, you should do which of the following? 1) Compare the actual quantity used with the direct material that should be used for the actual output. 2) Subtract the budgeted price from the actual price and multiply by the budgeted quantity of materials. 3) Compare the actual amount spent on direct materials with the direct materials shown on the master budget 4) Compare the standard price with the actual price for direct materials and multiply by the amount actually used in production Question 42 (4 points) When using a standard cost system in your accounting entries, you would debit direct materials inventory for: 1) Amount of materials purchased multiplied by the actual price per unit 2) Actual cost of materials purchased 3) The difference between the actual cost of materials purchased and the standard cost of the materials purchased. 4) Standard cost of the actual direct materials purchased Question 43 (4 points) For variable overhead costs, a rate variance and efficiency variance can be calculated for each: 1) Cost pool and cost driver 2) Type of direct material 3) Each hour of direct labor 4) Possible level of production