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QS 21-7 Materials variances exception LO P2 Tercer reports the following for one of its products. Direct materials standard (10 lbs. $6 per 1b.) Actual

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QS 21-7 Materials variances exception LO P2 Tercer reports the following for one of its products. Direct materials standard (10 lbs. $6 per 1b.) Actual finished units produced Actual cost of direct materials used 60 per finished unit 40,ee0 units $2,438,00e Compute the total direct materials cost variance and classify it as favorable or unfavorable Direct materials cost variance Unfavorable

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