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Materials and Labor Variances. The Cakebread Candy Company presents the following data for October. Standards per Batch Actual Total Materials...................1 pound at 2.50 per pound 49,000 pounds Labor........................1.5 hours at 3.00 per hour 79,000 hours Batches Produced.... 48,000 bathces During the month, the firm purchased 49,000 pounds of materials for $127,500. Wages earned were $214,000. Compute the labor and material variances.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92751565

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