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What is the direct materials price variance

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Question - Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,700 pounds of material, $5.00; and standard costs for 4,480 pounds of material at $6.10 per pound. What is the direct materials price variance?

a. $1,342 favorable

b. $5,170 favorable

c. $5,170 unfavorable

d. $1,342 unfavorable

Reference no: EM132508803

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