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Calculate the direct materials price variance

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Question - Mema Company makes rubber mats. The standard direct materials quantity is 2 pounds per mat at a cost of P1.00 per pound. The actual results for the production of 10,000 mats was 2.5 pounds per mat, at a cost of P1.10 per pound. Calculate the direct materials price variance and the direct materials efficiency variance.

Reference no: EM133174445

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