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also direct labor price variance, selling price variance, and direct materials efficiency variance please! You will use this information for the next four problems. Using
also direct labor price variance, selling price variance, and direct materials efficiency variance please!
You will use this information for the next four problems. Using the information from the table, what is the direct materials price variance? Please enter a positive number for your answer. You are not required to indicate whether the variance is favorable or unfavorable. Budgeted direct materials (standard) (5 lbs @ $2/1b) $10/unit Actual direct materials used 500,000 lbs Actual Units 110,000 units Actual cost of direct materials used $1,250,000 Budgeted direct labor (standard) (2 hours @ $10/hour) $20/unit Actual direct labor hours 225,000 hours Actual cost of direct labor $2,700,000 Budgeted units 100,000 Budgeted selling price $50 Actual selling price $65Step by Step Solution
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