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Seaside Company produces picture frames. During the year, 190,000 picture frames were produced. Materials and labor standards for producing the picture frames are as follows:
Seaside Company produces picture frames. During the year, 190,000 picture frames were produced. Materials and labor standards for producing the picture frames are as follows: Direct materials (2 pieces of wood @ $2.25) Direct labor (2 hours @ $10) $4.50 $20.00 Seaside purchased and used 400,000 pieces of wood at $2.00 each, and its actual labor hours were 360,000 hours at a wage rate of $10.50. What is the materials price variance? a. $135,000 F b. $112,500 U c. $170,000 U d. $100,000 F
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