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What is material price variance and explain the condition

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Problem 1: What is material price variance explain the condition when material price variance is favorable and unfavorable explain with examples ?

Problem 2: what is material quantity variance explain the condition when material quantity variance is favorable and unfavorable examples?

Problem 3: If the materials price variance is favorable but the material quantity variance is unfavorable, what might this indicate?Explain this with two relatable example numerically and also explain in Theoretically way how you have done your examples.

Reference no: EM132662535

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