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100 130 200 Acme Inc. has the following information available: Actual price paid for material $1.00 Standard price for material $1.20 Actual quantity purchased and
100 130 200 Acme Inc. has the following information available: Actual price paid for material $1.00 Standard price for material $1.20 Actual quantity purchased and used in production Standard quantity for units produced Actual labor rate per hour $14 Standard labor rate per hour $16 Actual hours Standard hours for units produced 220 A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers. Material price Sfill in the blank 1 variance Material quantity $fill in the blank 3 variance $fill in the blank 5 Labor rate variance $fill in the blank 7 Labor efficiency variance B. What are some possible causes for this combination of favorable and unfavorable variances
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