Question: Refer to the data in Exercise 118. Assume that instead of producing 4,000 units during the month, the company produced only 3,000 units, using 14,750

Refer to the data in Exercise 11—8. Assume that instead of producing 4,000 units during the month, the company produced only 3,000 units, using 14,750 pounds of material. (The rest of the material purchased remained in raw materials inventory.)

Required:

Compute the direct materials price and quantity variances for the month.

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