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2) Calculating materials variances (25 points).
Jackson, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity if 0.8
pound per glass as a cost of $0.30 per pound. The actual result for one months production of 6,900
glasses was 1.1 pounds per glass, at a cost of $0.40 per pound.
REQUIREMENTS:
1) Calculate the direct materials cost variance.
2) Calculate the direct materials efficiency variance.
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