Select all of the following statements that are correct. C] Purchase of poor oualitv materials will generallvr result in a favourable materials price variance and a favourable material quantity variance. C] The onlv difference between the static budget and flexible budget is that the static budget is prepared using planned output. C] If a companv has a favourable efficiencv variance, it uses less inputs than were budgeted for the output units achieved. C] The standard direct labour rate includes fringe benefits such as healthfdental or pension. C] The material quantitv variance is computed based on the quantitv of all materials purchased during the period. C] In a standard costing svstem, under-applied or over-applied fixed overhead is equal to the sum of the fixed overhead budget variance and the fixed overhead volume variance. A favourable variable overhead efficiencv variance mav be interpreted as meaning which of the following, if machine hours is the allocation base: 0 Emplovees used too much electricitv during production 0 Improved qualitv of materials resulting in less downtime to clean the machines of debris 0 Excess supplies were used 0 Too much of a cost driver was used 0 The cost driver is inappropriate Question 3 [1 point} An unfavourable variable overhead rate variance indicates that: 0 Variable overhead items were used efficientlv O The price andfor use of variable overhead items was more than budgeted O The variable overhead allocation base was not used efficientlv O The denominator level was not accuratelv determined 0 The denominator level was used more than planned