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Variances should not be interpreted in isolation. The cause of a variance in one part of the value chain may be related to decisions made

Variances should not be interpreted in isolation.

The cause of a variance in one part of the value chain may be related to decisions made in another, for example, a favorable labor efficiency variance may be tied to an unfavorable material price variance.An unfavorable material efficiency may arise related to a favorable labor price variance.

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