What does it mean to analyze the direct labor budget variance to determine the efficiency variance...

1. What does it mean to use a performance report to evaluate the results achieved during a period?
2. What does it mean to have a favorable variance?
3. What does it mean to capture favorable variances and eliminate unfavorable variances?
4. What does it mean to do flexible budgeting?
5. What does it mean to state that budgeted fixed expenses are not flexed?
6. What does it mean to have an unfavorable raw materials usage variance?
7. What does it mean to analyze the direct labor budget variance to determine the efficiency variance and rate variance components?