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What is direct material price variance and quantity variance

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Direct materials variances Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.65 per pound. 16,000 units used 35,900 pounds, which were purchased at $3.80 per pound.

Problem 1: What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance?

Reference no: EM132990895

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