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NXE manufacturing concern furnishes the following information: Standards: Material for 70kg finished products: 100kg Price of Material: $ 1 per kg Actual: Actual Production (Output):

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NXE manufacturing concern furnishes the following information: Standards: Material for 70kg finished products: 100kg Price of Material: $ 1 per kg Actual: Actual Production (Output): 210000 Material Used : 280000 Cost of Materials 252000 Calculate (a) Material Usages Variance and (b) Material Price Variance

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