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Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows:
Actual costs 1,550 lbs. at $9.10
Standard costs 1,600 lbs. at $9.00
Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance. Enter favorable variances as negative numbers.
a. Quantity variance $
b. Price variance $
c. Total direct materials cost variance
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Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as...
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