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Calculate the direct materials cost variance

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Problem - Johnson, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is 0.8 pound per glass at a cost of $0.40 per pound. The actual result for one month's production of 7,300 glasses was 1.4 pounds per glass, at a cost of $0.20 per pound. Calculate the direct materials cost variance and the direct materials efficiency variance.

Reference no: EM132891512

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