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Ivanhoe Company purchased ( at a cost of $ 1 4 , 9 6 0 ) and used 2 , 2 0 0 pounds of

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Ivanhoe Company purchased (at a cost of $14,960) and used 2,200 pounds of materials during May. Ivanhoe's standard cost of
materials per unit produced is based on 2 pounds per unit at a cost $7.00 per pound. Production in May was 1,020 units.
(a)
Compute the total, price, and quantity variances for materials.
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