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The standard direct material cost per unit for Willis Group was $192 (= $48 per...

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Accounting

The standard direct material cost per unit for Willis Group was $192 (= $48 per gallon 4 gallons per unit). During the period, actual direct materials costs amounted to $2,571,840, materials used totaled 55,525 gallons, and 13,370 units were produced.

Compute the direct materials price and efficiency variances for the period.

Price Variance: ___

Efficiency Variance: ___

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