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A company reports the following for one of its products. Directmaterialsstandard(4pounds@$3perpound)Actualdirectmaterialsused(AQ)ActualunitsproducedActualcostofdirectmaterialsused$12perunit330,000pounds68,000units$907,500 AQ= Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Price Compute the

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A company reports the following for one of its products. Directmaterialsstandard(4pounds@$3perpound)Actualdirectmaterialsused(AQ)ActualunitsproducedActualcostofdirectmaterialsused$12perunit330,000pounds68,000units$907,500 AQ= Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Price Compute the direct materials price and quantity variances and identify each as favorable or unfavorable

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