Huron Company produces a commercial cleaning compound known as Zoom. The d red materials and...
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Accounting
Huron Company produces a commercial cleaning compound known as Zoom. The d red materials and direct labor standards for one unit of Zoom are given below: During the most recent month, the following activity was recorded: Twenty thousand pounds of material were purchased at a cost of $2.35 per pound. Ail of the material purchased was used to produce 4,000 units of Zoom. 750 hours of direct labor time were recorded at a total labor cost of $10.425. Required: Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
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