Johnson Inc., is a manufacturer of lead crystal glasses. The standard materials quantity is 0.9...
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Accounting
Johnson Inc., is a manufacturer of lead crystal glasses. The standard materials quantity is 0.9 pound per glass at a price of $0.45 per pound. The actual results for the production of 7,100 glasses was 1.3 pounds per glass, at a price of $0.25 per pound.
Requirement
1. Calculate the materials price variance and the materials efficiency variance.
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