Prepare the journal entry using standard costing

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Question: The following data relate to the product of Dumbo Corporation: Direct material standard: 3 pounds at $2.50 per pound Direct material purchased and used: 30,000 pounds at $2.60 per pound Manufacturing activity: 10,100 units completed Show all computations.

For each variance, state For U.

a) Compute price variance, quantity variance, direct material variance.

b) Prepare the journal entry using standard costing

Reference no: EM133633846

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