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JanWay Corporation manufactures a decorative vase. The vases have a standard materials cost of 2 pounds of raw materials at $3/pound. During December 15,000 pounds

  1. JanWay Corporation manufactures a decorative vase. The vases have a standard materials cost of 2 pounds of raw materials at $3/pound. During December 15,000 pounds of raw materials costing $3.50/pound were used in producing 3,000 vases.
    1. calculate the Materials price variance and the Materials quantity variance.

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