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The following standards have been established for a raw material used in the production of product G13: The following data pertain to a recent month's operations: Calculate: Answer in the booklet provided. I. The material price variance II. The material quantity variance III. Who is most likely responsible for the price variance? Explain why. IV. Which of the variances in this situation should be given the greater attention? Circle the correct response. Price Variance Quantity Variance Explain why you made the choice that you did
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