Waless standard cost of materials per unit
Wales Company purchased (at a cost of $15,616) and used 3,200 pounds of materials during May. Wales's standard cost of materials per unit produced is based on 2.90 pounds per unit at a cost $5.00 per pound. Production in May was 1,020 units. Compute the total, price, and quantity variances for materials.
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Wales Company purchased (at a cost of $15,616) and used 3,200 pounds of materials during May. Wales's standard cost of materials per unit produced is based on 2.90 pounds per unit at a cost $5.00 per pound.
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