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Compute materials price variance

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Question - Materials Variance Analysis - Dormammu Inc. manufactures the Infinity Stone. In producing 3,000 Stones, Dormammu used 22 grams of Magick each. The price was $10 per ounce of Magick. The standard budget for the level of output they achieved called for atotal of 30,000 ounces of Magick, at a total price of $210,000.

Required - Compute materials price variance, usage variance, and total variance, labeling each clearly as such. Be sure to label each variance as Favorable or Unfavorable.

Reference no: EM133178805

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