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Determine the total direct materials cost variance

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Question

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

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

a. Quantity variance$

b. Price variance$

c. Total direct materials cost variance$

Reference no: EM132380627

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