Lace Ltd. produces a product which requires a single unit of material input per unit...
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Accounting
Lace Ltd. produces a product which requires a single unit of material input per unit of finished product. The budgeted standard material input cost is 30. Actual production last month was 5,000 units. The actual price paid per material input was 40 and total material input cost was 225,000. What was the material price variance and the material usage/efficiency variance
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