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Determine the quantity variance and price variance

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Problem - Standard and actual costs for direct materials for the manufacture of 2,000 units of product were as follows:

Actual costs 2,750 lbs. @ $8.10

Standard costs 2,800 lbs. @ $8.00

Required - Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance.

Reference no: EM132458491

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