A company reports the following for one of its products. Compute the direct materials price and quantity
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A company reports the following for one of its products. Compute the direct materials price and quantity variances and identify each as favorable or unfavorable.
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Actual units produced.. Actual cost of direct materials used... Direct materials standard (4 lbs. @ $2 per lb.)... $8 per unit 60,000 units Actual direct materials used 300,000 lbs. $540,000 .... .
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Total direct materials cost variance is 66000 and it is favorable Explanation Actual cost A...View the full answer
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