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Exeter has a materials standard of 1 pound per unit of output. Each pound has a standard price of $26 per pound. During July, Exeter

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Exeter has a materials standard of 1 pound per unit of output. Each pound has a standard price of $26 per pound. During July, Exeter paid $137000 for 4,970 pounds, which it used to produce 4,750 units. What is the direct materials quantity variance? Multiple Choice $6,880 favorable 58,320 unfavorable $7,780 unfavorable 55.720 unfavorable

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