Question: Refer to the data in Exercise 11-6. 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 11-6. Assume that instead of producing 4,000 units during the month, the company produced only 3,000 units, using 14,750 pounds of materials. (The rest of the material purchase remained in raw material inventory.)

Required:

Compute the materials price and quantity variances for the month.

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