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Campbell Soup Company is an American processed food and snack company but is known for...

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Basic Math

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Campbell Soup Company is an American processed food and snack company but is known for its canned soups The company provides the followin standard and actual cost relating to material price and labor usage Item to Classify Material Price Labor Usage Standard 8 50 per gallon 30 000 hours Multiple Choice Actual 8 35 per gallon 28 500 hours Based on the above information which statement is correct Both the materials price variance and the labor efficiency variance are favorable

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