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QS 21-7 Materials variances LO P3 Tercer reports the following for one of its products Direct materials standard (2 lbs. @ $5 per lb.) Actual
QS 21-7 Materials variances LO P3 Tercer reports the following for one of its products Direct materials standard (2 lbs. @ $5 per lb.) Actual finished units produced Actual cost of direct materials used $ 10 per finished unit 50,000 units $516,000 Compute the total direct materials cost variance and classify it as favorable, unfavorable or no variance. Direct materials cost variance
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