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The following materials standards have been established for a particular product:
Standard ouantlty per unit of output 3.6 metres
Standard price $10.20 per metre
The following data pertain to operations concerning the product for the last month:
Actual materials purchased E100 metres
Actual cost of materials purchased $58,515 per metre
Actual materials used in production 6.600 metres
Actual output 1380 units
Required:
Question a. What is the materials price variance for the month?
Question b. What is the materials quantity variance for the month?
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