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Tip Top Corp. produces a product that requires 1 6 standard gallons per unit. The standard price is $ 7 per gallon. If 6 ,

Tip Top Corp. produces a product that requires 16 standard gallons per unit. The standard price is $7 per gallon. If 6,500 units required 108,200 gallons, which were purchased at $6.86 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
a. Direct materials price variance $fill in the blank 1
b. Direct materials quantity variance $fill in the blank 3
c. Direct materials cost variance

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