The following information describes actual production activities of the Cheers Corp.: 8,000 units were completed...
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Accounting
The following information describes actual production activities of the Cheers Corp.: 8,000 units were completed during the year Budgeted standards for each unit produced: 1lb. of raw material at $2.60 per lb. 15 minutes (.25) of direct labor at $12.75 per hour Compute the direct materials price and quantity and the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable
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