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Compute the total and quantity variances for material

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Reference no: EM132528143

Wales Company purchased (at a cost of $10,800) and used 2,400 pounds of materials during May. Wales's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5 per pound. Production in May was 1,070 units.

Instructions:

Question (a) Compute the total, price, and quantity variances for materials.

Question (b) Assume Wales also had an unfavorable labor quantity variance. What is a possible scenario that would provide one cause for the variances computed in (a) and the unfavorable labor quantity variance?

Reference no: EM132528143

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