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Material and Labor analysis Mini-Lecture We'll now begin our discussion on standard costing by defining what a standard is. A STANDARD IS A...
FOR 25 ASSIGNMENT POINTS...............Complete the following:The following data pertain to the first week of operations during June:Materials:Actual purchases........................................1500 units @$3.80/unitActual usage...............................................1350 unitsStandard usage...........................................1020 units @$4.00/unitLabor:Actual hours...............................................310 hours @ $12.10/hourStandard hours...........................................340 hours @ $12.00/hourComplete the three material variances and the two labor variances.
