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Determine the direct materials price variance

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Question - Direct materials variances

The following data relate to the direct materials cost for the production of 2,000 automobile tires:

Actual:                  51,700 lbs. at $1.85          95,645

Standard:            52,700 lbs. at $1.80          94,860

Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Use the minus sign to enter favorable variances as negative numbers.

Reference no: EM131818168

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