Case 1 Material Price and Quantity Variance Presented below are standard cost data for the...
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Case 1 Material Price and Quantity Variance Presented below are standard cost data for the production of heating unit control boxes: 3.5 sq ft@$0.45 per sq ft. 1 each @$6.25 each 100 ft @$0.04 per ft Treated steel Control Units Copper wire During the period 8,000 control units were manufactured and the following materials were used: 26,200 sq ft @$ 0.48 per sq ft. 8,160 units @ $6.15 each 844,000 ft @$0.045 per ft Treated steel Control Units Copper wire Required: Compute the material price and quantity variances for each of the raw materials used in the production of heating control units
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