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Question - Devito Jewelers specializes in custom settings for the customers' gemstones. Platinum represents the most popular precious metal Devito uses when designing new settings. In July, Devito purchased 850 grams of platinum at a spot price of $35.50 per gram. During July, Devito used 800 grams of platinum to create new 200 custom ring settings. When estimating the material cost of a ring setting, the company uses the following standard: 4.2 grams per ring with a total cost per ring of $147.00 per ring. Compute the direct material quantity variance.
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This individual assignment is based on the TerraCycle Inc.
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