Whitley Company makes a product that is expected to use 1.2 pounds of material per unit of product. The material has a standard cost of $2 per pound. Whitley Company actually used 1.25 pounds of material per unit of product made in January 2015. The actual cost of material was $1.95 per pound. Based on this information, the materials variances for January 2015 production would be: (Circle or highlight one) [4 points] U=unfavorable; F= favorable A) U for price and U for usage B) U for price and F for usage C) F for price and U for usage D) F for price and F for usage
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Whitley Company makes a product that is expected to use 1.2 pounds of material per unit of product. The material has a standard cost of $2 per pound….
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