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Calculate the direct materials price and quantity variances

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Reference no: EM132945214

Question - The following information is available for Waterway's Chocolates:

Actual production 4,800 boxes

Budgeted production 3,330 boxes

Direct Materials Standard2 pounds of chocolate per box @ $5.00 per pound

Actual 8,600 pounds purchased @ $5.10 per pound 9,100 pounds used

Required - Calculate the direct materials price and quantity variances.

Reference no: EM132945214

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