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Gonzalez Company makes a product that is expected to use 1.2 pounds of material per unit of product. The material has a standard cost of
Gonzalez Company makes a product that is expected to use 1.2 pounds of material per unit of product. The material has a standard cost of $2 per pound. Gonzalez actually used 1.1 pounds of material per unit of product made in January. The actual cost of material was $2.10 per pound. Based on this information alone, the condition of the variances for the January production would be
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