To help him investigate price variances for direct materials, Harold generated the following chart.

Required

Based on the chart, answer the following questions.

$1.$ If you were trying to explain the results of these variances to the vice president of production, how would you describe it $(2$ points$)?$

$2.$ What may result in large positive or large negative price variances $(2$ points$)?$To help him investigate price variances for direct materials, Harold generated the following chart.

Direct Material Price Variances

A

Required

Based on the chart, answer the following questions.

If you were trying to explain the results of these variances to the vice president of production, how would you describe it $(2$ points$)?$

What may result in large positive or large negative price variances $(2$ points$)?$