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ercer reports the following for one of its products. Direct materials standard (7 lbs. @ $5 per lb.) $ 35 per finished unit Actual finished

ercer reports the following for one of its products.

Direct materials standard (7 lbs. @ $5 per lb.) $ 35 per finished unit
Actual finished units produced 60,000 units
Actual cost of direct materials used $ 2,140,000

Compute the total direct materials cost variance and classify it as favorable, unfavorable or no variance.

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