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Required: 1. Compute the direct materials cost variance, including its price and quantity variances.(Round actual price to 2 decimal places.) Actual Cost Standard Cost 2.

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Required: 1. Compute the direct materials cost variance, including its price and quantity variances.(Round actual price to 2 decimal places.) Actual Cost Standard Cost 2. Compute the direct labor variance, including its rate and efficiency variances.(Round actual rate to 2 decimal places.) Actual Cost Standard Cost

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