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A company's standard material cost to produce one unit of a product is $85. During a period, 12,000 units were produced with actual material costs

A company's standard material cost to produce one unit of a product is $85. During a period, 12,000 units were produced with actual material costs amounting to $1,020,000. Assess the material price variance and material quantity variance separately, identifying the causes of deviations from standard costs.

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