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Bravo Baking uses standard costing to analyze its performance. The data below is provided for your use in determining Bravo's variances. Standard Cost per unit Cost /Unit Amount/Unit Standard Cost.
During the month, Bravo sold 9,000 loaves of bread and used 4,650 pounds of ingredients. Also during the month, Bravo purchased 5,000 pounds of ingredients at a cost of $22,500. Employees worked a total of 2200 hours and actual labor costs were $19,998
Required:Compute the material price and quantity variance.
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