Question: Using the standard unit costs that you computed in SE 3 and the following actual cost and usage data, compute the direct materials price and

Using the standard unit costs that you computed in SE 3 and the following actual cost and usage data, compute the direct materials price and direct materials quantity variances:

Direct materials purchased and used (pounds).............55,000

Price paid for direct materials......................$10.00 per pound

Number of good units produced....................11,000 units

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