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Tercer reports the following for one of its products. Direct materials standard (3 lbs. @ $4 per lb.) $ 12 per finished unit Actual finished

Tercer reports the following for one of its products.


Direct materials standard (3 lbs. @ $4 per lb.)	$	12	per finished unit
Actual finished units produced		110,000	units
Actual cost of direct materials used	$	1,337,000

Compute the total direct materials cost variance and classify it as favorable or unfavorable.

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