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Buerhle Company purchased (at a cost of $15,873) and used 2,791 pounds of materials during May. Buerhle's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $6 per pound. Production in May was 1,288 units.
Instructions: Compute the total, price, and quantity variances for materials.
Adler Corporation has 50,000 shares of $10 par common stock authorized. The following transactions took place during 2008, the first year of the corporation's existence:
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As of December 31, 2010, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of 2010, there was $2,000 of materials on hand. During the year, the company purchased $305,000 of materials;
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