Compute the direct materials price variance

Reference no: EM131020869

Fletcher Company collected the following data regarding production of one of its products. Compute the direct materials price variance.

Direct materials standard (6 lbs. @ $2/lb.)	$12 per finished unit
Actual direct materials used	243,000 lbs.
Actual finished units produced	40,000 units
Actual cost of direct materials used	$483,570

Reference no: EM131020869

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