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Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,700 pounds of material, $5.00; and standard costs for
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,700 pounds of material, $5.00; and standard costs for 4,480 pounds of material at $6.10 per pound.
What is the direct materials price variance?
a.$1,342 favorable
b.$5,170 favorable
c.$5,170 unfavorable
d.$1,342 unfavorable
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