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Lord Company produces chairs and has determined the following direct cost categories and budgeted amounts: Actual performance for the company is shown below: Required: a.

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Lord Company produces chairs and has determined the following direct cost categories and budgeted amounts: Actual performance for the company is shown below: Required: a. What is the combined total of the flexible-budget variances? b. What is the price variance of the direct materials? Answer: Show your process step by step

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