Material Variances [LO1] Refer to the data in Exercise 106. Assume that instead of producing 2,500 bottles
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Material Variances [LO1]
Refer to the data in Exercise 10–6. Assume that instead of producing 2,500 bottles of Whim during the month, the company produced only 2,000 bottles using 16,000 ounces of material. (The rest of the material purchased remained in raw materials inventory.)
Required:
Compute the direct materials price and quantity variances for the month.
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