Question: The company planned to manufacture 3,000 units during the period. Each unit was budgeted to cost $5. The company actually spent $14,500 to manufacture 2,800

The company planned to manufacture 3,000 units during the period. Each unit was budgeted to cost $5.

The company actually spent $14,500 to manufacture 2,800 units.

1. What is the material price variance?

2. Is it favorable or unfavorable?

3. What is the material usage variance?

4. Is it favorable or unfavorable?

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