Why are product cost variances (DM, DL, MOH) broken down and separated into price & quantity variance or rate & efficiency variance. What is the purpose and what information do these additional variances provide? Explain in your own words and be specific.

Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead
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Why are product cost variances (DM, DL, MOH) broken down and separated into price & quantity variance or rate & efficiency variance. What is the purpose and what information do these additional variances provide? Explain in your own words and be specific.
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