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View Policies Current Attempt in Progress Concord Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the

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View Policies
Current Attempt in Progress
Concord Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.
Direct materials (9 pounds at $3.70 per pound) $33.30
Direct labor (5 hours at $11.00 per hour) $55.00
During the month of April, the company manufactures 340 units and incurs the following actual costs.
Direct materials purchased and used (1,500 pounds) $5,850
Direct labor (1,730 hours)
$18,684
Compute the total, price, and quantity variances for materials and labor.
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