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What is the direct materials price variance

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Question - Norris Company produces a product that requires six standard pounds per unit. The standard price is $1.25 per pound. If 500 units required 2,900 pounds. which were purchased at $1.30 per pound. What is the direct materials (a) price variance, (b) quantity variance, (c) cost variance, (d) variance per pound?

Reference no: EM131767077

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