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arses/8706/quizzes/124409/take Question 7 10 pts The following materials standards have been established for a particular product: Standard quantity per unit of output 10 pounds Standard price $ 15.00 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 6,500 pounds Actual cost of materials purchased $ 125,125 Actual materials used in production 6.000 pounds Actual output 750 units a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? Edit View Insert Format Tools Table 12pt Paragraph