Material Variances. Blannery Corporation purchased 5,000 pounds of direct materials at $3.55 per pound. It used 2,900
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Material Variances. Blannery Corporation purchased 5,000 pounds of direct materials at $3.55 per pound. It used 2,900 pounds in manufacturing 6,000 finished units. Standard materials cost is $3.50 per pound, and standard materials usage is 5 pound per finished unit. Determine the following variances:
a. Materials price.
b. Materials usage.
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