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Aquatic Corp

question 62

Short Answer

Aquatic Corp.'s standard material requirement to produce one Model 2000 is 15 pounds of material @ $110.00 per pound. Last month, Aquatic purchased 170,000 pounds of material at a total cost of $17,850,000.  It used 162,000 pounds to produce 10,000 units of Model 2000.  
Calculate the materials price variance and materials quantity variance, and indicate whether each variance is favorable or unfavorable.

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Definitions:

Developed

A term often used to describe a state of growth or advancement in a particular area, such as technology, economy, or social conditions.

Relational Aggression

A type of aggression that harms others through deliberate manipulation or damage to their relationships or social status.

Hostile Aggression

Aggressive behavior motivated by feelings of anger and aimed at inflicting pain or harm to others.

Scapegoat Aggression

A form of hostility where one individual or group is unfairly blamed for problems or negative outcomes.

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