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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)

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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