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The following information is available for Wrenched Manufacturing Corporation for last period: - direct material price variance was $10,000 Favorable - direct material quantity variance

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The following information is available for Wrenched Manufacturing Corporation for last period: - direct material price variance was $10,000 Favorable - direct material quantity variance was Favorable - 20,000 feet of direct materials were purchased - 15,000 feet of direct materials were used - the actual price of direct materials was $6.50 per foot The direct material standard price is: $7.00. $5.83. Cannot be determined with the information given. $6.00. O $7.17

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