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Acme Inc. has the following information available: Actual price paid for material Standard price for material Actual quantity purchased and used in production Standard
Acme Inc. has the following information available: Actual price paid for material Standard price for material Actual quantity purchased and used in production Standard quantity for units produced Actual labor rate per hour Standard labor rate per hour Actual hours Standard hours for units produced $1.00 $0.90 100 90 $ 15 $ 14 200 190 NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F" (for Favorable) or "U" (for Unfavorable) - capital letter and no quotes. Complete the following table of variances and their conditions: Variance Material Price Material Quantity Total DM Cost Variance Labor Rate Labor Efficiency Total DL Cost Variance Variance Amount Favorable (F) or Unfavorable (U)
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