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A company reports the following for one of its products. Directmaterialsstandard(4pounds&$2perpound)Actualdirectmaterialsused(AQ)ActualunitsproducedActualcostofdirectmaterialsusedAQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice$8perunit340,000pounds65,000units$612,000 Compute the direct materials price and quantity variances and identify each as favorable or
A company reports the following for one of its products. Directmaterialsstandard(4pounds&$2perpound)Actualdirectmaterialsused(AQ)ActualunitsproducedActualcostofdirectmaterialsusedAQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice$8perunit340,000pounds65,000units$612,000 Compute the direct materials price and quantity variances and identify each as favorable or unfavorable
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