Which of the following statements is true? 1. Waste on the production line will result in an unfavorable materials price variance. II. An unfavorable materials quantity variance occurs when the actual quantity used in production is less than the standard quantity allowed for the actual output of the period

Which of the following statements is true? I. Waste on the production line will result in an unfavorable materials price variance. II. An unfavorable materials quantity variance occurs when the actual quantity used in production is less than the standard quantity allowed for the actual