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Please answer all of the questions and show work! Starts Inc. produces a product for which the standard specifies 4 yards of material per unit.
Please answer all of the questions and show work!
Starts Inc. produces a product for which the standard specifies 4 yards of material per unit. The standard price of one yard of material is $22.60. During the month, 7,700 products were manufactured, using 32,000 yards at a cost of $21.50. Determine the:
(a) direct materials price variance
(b) direct materials quantity variance
(c) total direct materials cost variance.
(d) perform the journal entries to record the variances.
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