Final answer:
The statement is false as other factors beyond a production manager's control can contribute to an unfavorable materials cost volume variance; a thorough analysis is required before taking corrective actions.
Step-by-step explanation:
The statement that an unfavorable materials cost volume variance indicates that the production manager should be reprimanded is false. An unfavorable variance suggests that the actual materials cost exceeded the standard cost expected for the actual production volume.
However, it does not necessarily mean that the production manager should be reprimanded. There could be several reasons for this variance, including price increases, wastage, or inefficiencies that may or may not be within the manager's control. The reasons for the variance must be analyzed thoroughly before any action is taken against the production manager.