The Morningside Company Ltd had the following results for the year to 31 December 20X7. A single

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The Morningside Company Ltd had the following results for the year to 31 December 20X7. A single product – a woggley – was made by the company.

The standard cost of manufacturing each unit was £2.20.
What are the price and volume variances on sales in 20X7?

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