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ABC Company reports the following information for the most recent period when 2,750 units were produced. Cost Standard Actual Materials 2 lbs. @ $5.00 per
ABC Company reports the following information for the most recent period when 2,750 units were produced.
| Cost | Standard | Actual |
| Materials | 2 lbs. @ $5.00 per pound | 7,000 pounds purchased for $34,650 |
| Labor | 0.50 hours @ $8.00 per hour | 1,400 hours @ $7.95 per hour |
. Calculate the direct materials efficiency variance.
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Principles of Auditing and Other Assurance Services
Authors: Ray Whittington, Kurt Pany
19th edition
978-0077804770, 78025613, 77804775, 978-0078025617
