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What is a price variance

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Question: 1. What department is usually responsible for a direct labor rate variance? What department is usually responsible for a direct labor efficiency variance? Explain.

2. For the current period, Kawaga Company's manufacturing operations yield a $4,000 favorable price variance on its direct materials usage. The actual price per pound of material is $77; the standard price is $77.50. How many pounds of material are used in the current period?

3. What is a price variance? What is a quantity variance?

Reference no: EM131539638

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