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Required: Prepare a report for management that: . a) Clearly shows the variances for the following: Total material variance Material price variance Material usage variance

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Required: Prepare a report for management that: . a) Clearly shows the variances for the following: Total material variance Material price variance Material usage variance Total labour variance Labour rate variance Labour efficiency variance . . (17 marks . b) Provides two possible explanations for each of the following variances: Material price variance Material usage variance Labour rate variance Labour efficiency variance . . (8 marks

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