Which of the following statements is true? O Variances are the differences between total actual costs and total standard costs. O When actual costs exceed standard costs, the variance is favorable. O An unfavorable variance results when actual costs are decreasing but standards are not changed. O All of the above are true. Oriole Company planned to use 1 yard of plastic per unit budgeted at $81 a yard. However, the plastic actually cost $80 per yard. The company actually made 4100 units, although it had planned to make only 3300 units. Total yards used for production were 4160. How much is the total materials variance? $64800 U O $4160 F O $6480U $700U