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.... Landram Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 2.0 liters $7.00 per
....
Landram Corporation makes a product with the following standard costs: |
Standard Quantity or Hours | Standard Price or Rate | |
Direct materials | 2.0 liters | $7.00 per liters |
Direct labor | 0.7 hours | $15.00 per hour |
Variable overhead | 0.7 hours | $5.00 per hour |
The company produced 4,500 units in April using 10,130 liters of direct material and 2,110 direct labor-hours. During the month, the company purchased 10,700 liters of the direct material at $7.10. per liter. The actual direct labor rate was $15.50 per hour and the actual variable overhead rate was $5.00 per hour. |
The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. |
The materials quantity variance for April is? |
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