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Find and calculate materials price and quantity variances

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Reference no: EM132535957

In producing 700 units of Product CBA last period, Cobalt Company used 5,000 pounds of Material H, costing $34,250. The company has established the standard of using 7.2 pounds of Material H per unit of CBA, at a price of $7.50 per pound.

Question 1: Calculate the materials price and quantity variances associated with producing the 700 units, and indicate whether they are favorable or unfavorable.

Reference no: EM132535957

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