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Posted: October 26th, 2023

Standard costs and actual costs incurred for the manufacture of 8000 units

Standard costs and actual costs incurred for the manufacture of 8000 units of product were as follows: Standard Costs Actual CostsDirect Materials: 8000 lbs @ $30 7750 lbs @ $30.20Direct Labor: 10, 000 @ $36 10,250 hours at $38Determine (a) the quantity variance, price variance and total direct materials cost variance and (b) the time variance, rate variance and total direct labor variance

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